DTI cuts back British technology aid scheme
Britain's DTI has announced cutbacks to its Grants for Research & Development scheme, The Times reports this morning. Created by the UK government agency to boost innovation in the science and technology sectors, the scheme (formerly known as 'SMART') will undergo a funding cut from £45m to £36m and the company start-up grants available will be trimmed from 900 to 300
In the last Budget speech, Chancellor of the Exchequer Gordon Brown asserted that "science and innovation lie at the heart of the UK's prosperity" and promised to increase funding in the sectors.
A DTI spokesman told the newspaper that its scheme has been significantly over budget in recent years. Henceforth entrepreneurs seeking funds to start up technology companies must enter their projects for regional competitions organised by the DTI.
Autosport Professional is a subscription based daily email service for the motorsport professional. The aim is simple: to keep you up to date with relevant motorsport business news, using our worldwide network of resources to supply relevant timely bulletins.
Share Or Save This Story
Why wet Canadian GP will be "the perfect storm" for F1
BTCC Snetterton: Rainford dominates to lead home Ingram
Why we need to talk about social media in F1
Super Formula Suzuka: Fukuzumi sees off Iwasa for Rookie Racing's first win
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments