The UK Strategic Investment Fund has committed funding to support various projects focused on advanced manufacturing and innovation. This includes £45 million for low-carbon aircraft engine technology research through the Technology Strategy Board and £12 million to expand the Printable Electronics Centre. It also allocated £8 million to expand the Manufacturing Advisory Service and provided £12 million to support an Industrial Biotechnology demonstrator facility. The fund aims to strengthen the UK's capabilities in key industrial sectors and support the development of new technologies.
Vivek Tulpule Analyst Roundtable April 2010Rio Tinto plc
- The document is a presentation by Rio Tinto's chief economist from April 2010 discussing global economic trends and outlooks, with a focus on China.
- It notes that consensus projections show global growth accelerating in 2010, led by developing economies like China, after contracting in 2009.
- Data on China's economy in 2008-2010 shows strong rebounds in industrial production, exports, and retail sales after the financial crisis, supported by fiscal stimulus and abundant liquidity.
The document provides guidance for UK companies wishing to do business in Uganda. It outlines Uganda's economy and key sectors of opportunity such as oil and gas, infrastructure, agriculture and tourism. The main strategies for market entry are direct export, using an agent/distributor, establishing an office, franchising, joint ventures and bidding on government tenders. Distribution is typically through regional wholesalers and large retailers. Electronic commerce remains underdeveloped but mobile banking is growing. Key considerations include research, identifying partners using UKTI services, and understanding licensing and tax requirements.
The document discusses India's industrial policies from 1948 to 1991. It provides details on the key features and objectives of the Industrial Policy Resolutions of 1948, 1956, 1977, 1980 and the New Industrial Policy of 1991. The main changes introduced include reducing the scope of licensing, allowing greater private sector participation, reducing public sector monopoly, and encouraging foreign investment and technology. The number of industries reserved for the public sector was reduced from 17 to 8 and later to 3. The policies aimed to accelerate industrialization while promoting economic liberalization and reducing bureaucratic controls.
China Exit or Co-Investment Opportunities for German PE InvestorsL.E.K. Consulting
L.E.K.'s Karin von Kienlin recently presented at BVK on a study conducted by L.E.K. Munich and Shanghai. They wished to:
- Understand developments in Chinese equity investments in both the domestic China / pan-Asian market and cross-border investments between China and Germany / Europe
- Identify trends in likely future investment behavior and its drivers
- Defining success factors both for Chinese and German investors / corporates as to how to benefit from the potential opportunities of cross-border investments and cooperation
Learn more in the presentation here.
Country overview & investment opportunities - ArgentinaEY Argentina
Argentina provides investment opportunities across multiple sectors totaling more than US$265 billion. Key sectors highlighted in the document include infrastructure (US$142 billion), energy (US$35 billion), mining (US$30 billion), oil and gas (US$25 billion), agribusiness (US$26 billion), and industrial goods (US$8 billion). The political and economic environment in Argentina has stabilized under President Macri, pursuing pro-market reforms and macroeconomic normalization after years of interventionist policies. Challenges remain in reducing inflation, the fiscal deficit, and poverty while generating sustainable economic growth and employment.
The U.K. economy has transitioned from being dominated by manufacturing and industry to a service-based economy. It was the first country to industrialize but has seen relative economic decline compared to other nations. Currently, the U.K. has the 7th largest national economy globally and is composed of four constituent countries - England, Scotland, Wales, and Northern Ireland. Key industries include aerospace, pharmaceuticals, and oil/gas extraction from the North Sea.
SQM is a global producer of specialty plant nutrients, lithium, iodine, and industrial chemicals. It has unique and abundant natural resources in Chile. SQM has leading market positions and is the lowest cost producer for several of its products. It has a solid financial position with stable revenues, earnings, and credit metrics. SQM continues to focus on cost savings programs and growing its specialty businesses.
Vivek Tulpule Analyst Roundtable April 2010Rio Tinto plc
- The document is a presentation by Rio Tinto's chief economist from April 2010 discussing global economic trends and outlooks, with a focus on China.
- It notes that consensus projections show global growth accelerating in 2010, led by developing economies like China, after contracting in 2009.
- Data on China's economy in 2008-2010 shows strong rebounds in industrial production, exports, and retail sales after the financial crisis, supported by fiscal stimulus and abundant liquidity.
The document provides guidance for UK companies wishing to do business in Uganda. It outlines Uganda's economy and key sectors of opportunity such as oil and gas, infrastructure, agriculture and tourism. The main strategies for market entry are direct export, using an agent/distributor, establishing an office, franchising, joint ventures and bidding on government tenders. Distribution is typically through regional wholesalers and large retailers. Electronic commerce remains underdeveloped but mobile banking is growing. Key considerations include research, identifying partners using UKTI services, and understanding licensing and tax requirements.
The document discusses India's industrial policies from 1948 to 1991. It provides details on the key features and objectives of the Industrial Policy Resolutions of 1948, 1956, 1977, 1980 and the New Industrial Policy of 1991. The main changes introduced include reducing the scope of licensing, allowing greater private sector participation, reducing public sector monopoly, and encouraging foreign investment and technology. The number of industries reserved for the public sector was reduced from 17 to 8 and later to 3. The policies aimed to accelerate industrialization while promoting economic liberalization and reducing bureaucratic controls.
China Exit or Co-Investment Opportunities for German PE InvestorsL.E.K. Consulting
L.E.K.'s Karin von Kienlin recently presented at BVK on a study conducted by L.E.K. Munich and Shanghai. They wished to:
- Understand developments in Chinese equity investments in both the domestic China / pan-Asian market and cross-border investments between China and Germany / Europe
- Identify trends in likely future investment behavior and its drivers
- Defining success factors both for Chinese and German investors / corporates as to how to benefit from the potential opportunities of cross-border investments and cooperation
Learn more in the presentation here.
Country overview & investment opportunities - ArgentinaEY Argentina
Argentina provides investment opportunities across multiple sectors totaling more than US$265 billion. Key sectors highlighted in the document include infrastructure (US$142 billion), energy (US$35 billion), mining (US$30 billion), oil and gas (US$25 billion), agribusiness (US$26 billion), and industrial goods (US$8 billion). The political and economic environment in Argentina has stabilized under President Macri, pursuing pro-market reforms and macroeconomic normalization after years of interventionist policies. Challenges remain in reducing inflation, the fiscal deficit, and poverty while generating sustainable economic growth and employment.
The U.K. economy has transitioned from being dominated by manufacturing and industry to a service-based economy. It was the first country to industrialize but has seen relative economic decline compared to other nations. Currently, the U.K. has the 7th largest national economy globally and is composed of four constituent countries - England, Scotland, Wales, and Northern Ireland. Key industries include aerospace, pharmaceuticals, and oil/gas extraction from the North Sea.
SQM is a global producer of specialty plant nutrients, lithium, iodine, and industrial chemicals. It has unique and abundant natural resources in Chile. SQM has leading market positions and is the lowest cost producer for several of its products. It has a solid financial position with stable revenues, earnings, and credit metrics. SQM continues to focus on cost savings programs and growing its specialty businesses.
The document summarizes the state of play in EPA negotiations between the ACP countries and EU regarding mineral resources, and discusses implications of the EU's Raw Materials Initiative for ACP countries. Key points include: 37 ACP countries have initialled/signed interim EPAs with the EU, which include commitments on elimination of export taxes and market access for mining products. Final EPAs are still under negotiation. The EU's RMI aims to secure access to raw materials from countries like those in Africa, which have large reserves, presenting both challenges and opportunities for ACP mineral-rich countries in terms of governance, policy space and negotiating capacity. ACP countries should strengthen institutions and engage with the EU to ensure mining deals benefit local economies.
This document provides an overview of business opportunities for foreign investment in Cuba between 2017-2018. It discusses the advantages and legal framework for foreign investment in Cuba. Key sectors highlighted for foreign investment include agriculture/foods, sugar, industry, tourism, energy, mining, transportation, biotechnology, health, construction, telecommunications, banking/finance, and culture. Specific projects are outlined in the Special Economic Development Zone of Mariel and each sector. Guidelines are provided for different foreign investment partnership models including joint enterprises and international economic partnerships.
The document contains forward-looking statements about the company's business outlook, future economic performance, and financial projections. These statements are estimates based on currently available information and involve risks and uncertainties that could cause actual results to differ materially. Risks that could affect the accuracy of the forward-looking statements are identified in public filings with the SEC. Forward-looking statements should be considered in light of these risk factors.
SQM is a global producer of specialty plant nutrients, iodine, lithium, and industrial chemicals. In 2015, SQM reported revenues of $1.7 billion and EBITDA of $724 million, with a 42% EBITDA margin. SQM has unique and abundant natural resources in Chile, including the world's largest deposits of nitrates and iodine. It is also the lowest cost producer of lithium globally. SQM has a solid financial position and expects higher sales volumes and capital expenditures in 2016.
SQM is a global producer of specialty plant nutrients, lithium and industrial chemicals. It has unique and abundant natural resources in Chile. It has a solid financial position with revenues of $1.8 billion, EBITDA of $758 million and a debt to equity ratio of 1.01. SQM has leading market positions in speciality fertilizers like potassium nitrate and industrial chemicals like solar salts. It is also the lowest cost producer of lithium and a major player in iodine.
The Philippines is currently in 35 Bilateral Investment Treatises, wherein most of those are either unutilized to the fullest or unutilized at all. This is due mainly to the lack of resources and researcher on trade and investment in the Philippines to help policy makers in deciding and forging sounds strategies. Another is because of the country characteristics
SQM is a global producer of specialty plant nutrients, lithium and industrial chemicals. It has unique and abundant natural resources in Chile. It has a solid financial position with revenues of $1.8 billion, EBITDA of $758 million and low debt levels. SQM holds leading market positions in speciality fertilizers like potassium nitrate and niche industrial chemicals like solar salts. It also has opportunities in lithium and metallic exploration.
The document discusses Mexico's economic development and trade evolution, highlighting its role in global supply chains. It also examines Mexico's approach to trade facilitation and analyzes the medical devices industry as a case study. Some key points:
- Mexico has experienced significant growth in exports since NAFTA, now representing 33% of GDP, but remains reliant on exports to the US and in a few key industries.
- As a part of global supply chains, Mexico specializes in downstream production, importing unfinished goods and adding value before re-exporting. This limits value capture.
- Mexico has implemented initiatives to facilitate trade and ease the import-export process through programs administered by the Secretary of Economy.
Constraints on economic development revision packMatthew Bentley
This document discusses several key constraints on economic growth and development, including infrastructure gaps, primary commodity dependence, macroeconomic instability, conflicts and corruption, and human capital weaknesses. It provides examples of each constraint in different countries and regions. Infrastructure deficiencies like inadequate power, roads, sanitation and transportation networks increase costs for businesses and limit connectivity. Reliance on volatile primary exports also exposes countries to economic shocks from falling commodity prices. Conflicts, corruption and poor governance undermine stability, investment and equitable resource allocation.
This document discusses foreign direct investment (FDI) in India. It outlines the history of India's approach to FDI from cautious in the 1940s-1960s, to restrictive in the 1960s-1970s, to semi-liberalization in the 1980s-1990s. Recent FDI has increased significantly, with major investments from countries like Mauritius, Singapore, and the US. Key challenges to increasing FDI include developing infrastructure, promoting equitable growth between rural and urban areas, gaining political support for reforms, and addressing taxation issues. Overall, the document analyzes India's changing policies toward and recent trends in foreign direct investment.
1) Kuwait has a population of 2.9 million people and its economy relies heavily on oil and natural gas exports, which contribute around 59% of GDP.
2) McDonald's first opened in Kuwait in 1994 and now has over 68 restaurants and 2,300 employees across the country. All McDonald's restaurants in Kuwait are locally owned and operated.
3) McDonald's is testing its new "Create Your Taste" burger platform in Kuwait, aiming to offer customers premium gourmet customization while maintaining fast service.
The document discusses the role of the private sector in Pakistan's development and issues related to privatization. It notes that industrialization is key to rapid development and that Pakistan had a negligible industrial base at independence. The private sector has an important role to play in infrastructure development, as the public sector alone cannot fulfill these responsibilities. Privatization aims to attract foreign investment, increase efficiency and production, boost exports, and reduce debt burdens. However, issues like infrastructure deficits, regulatory weaknesses, and lack of skilled labor pose challenges to private sector growth in Pakistan.
This document is the October 2020 World Economic Outlook report published by the International Monetary Fund. It provides projections for the global economy following the severe downturn caused by the COVID-19 pandemic, as well as analysis of economic challenges and policy considerations. The report expects only a partial recovery in 2021 and estimates that the damage to supply potential could lower medium-term growth. It also discusses risks to the outlook, including the possibility of more severe downturns, and recommends near-term policy priorities of ensuring health resources and limiting economic damage, along with enhanced multilateral cooperation and policies to address long-term challenges.
SQM is a global producer of specialty plant nutrients, lithium and industrial chemicals. It has unique and abundant natural resources in Chile. SQM has leading market positions in several businesses including potassium nitrate, iodine, lithium and industrial chemicals. It has a solid financial position and expects higher sales volumes and prices in 2016 for key products like lithium and solar salts.
Innovation Policy by Fergus Harradence BISTal Oron
A presentation by the deputy director for innovation policy, Mr. Fergus Harradence @ a talk organized by the Entrepreneurs Interactive Society, Imperial Business School
A Creative Block? The Future of the UK Creative IndustriesThink Ethnic
The document provides an overview of the future of the UK creative industries. It begins by reviewing the 2007 report "Staying Ahead", which celebrated the success of the UK creative industries but also identified some underlying vulnerabilities. Since its publication, the recession and trends like convergence, digitalization, and international competition have impacted the industry. The report examines these changes and their implications. It argues the UK creative industries still have growth potential but face challenges from global trends and competition that require a policy response to ensure they can continue contributing to the UK's economic recovery and future growth. The conceptual tools from "Staying Ahead" still provide value but require some revisions to fully capture today's context.
The document discusses the future of manufacturing in the UK. It finds that manufacturing will be very different by 2050 and will face both opportunities and challenges. Key points include:
- Manufacturing will be faster, more responsive to customers, and integrated with services. Products and processes will be more sustainable. The sector will also be more dependent on highly skilled workers.
- The UK government needs to help manufacturing adapt by focusing on workforce skills, access to financing, and developing a new office dedicated to coordinating long-term manufacturing policy.
- For the UK to succeed, both government and industry must prepare for the significant changes ahead and work to realize opportunities while meeting coming challenges.
Future of manufacturing: a new era of opportunity and challenge for the UK - ...bis_foresight
Foresight project looking at the long-term picture for the UK manufacturing sector between now and 2050.
Read the full report here: http://www.slideshare.net/bis_foresight/future-of-manufacturing-a-new-era-of-opportunity-and-challenge-for-the-uk-project-report
For more information, see: http://bit.ly/FoMn
The UK has the leading global FinTech ecosystem based on an analysis of 7 regions across 4 attributes: Talent, Capital, Policy, and Demand. The UK ranks highly across attributes and particularly excels in supportive government policy. While the UK leads in many areas, California has a larger FinTech investment market and stronger tech talent pipeline. Maintaining the UK's position will require continued efforts to support FinTech growth given rising competition from other regions.
The document outlines the UK's Industrial Strategy, which aims to boost innovation, skills, infrastructure, business growth, and local economies. Some key points include:
- The strategy focuses on five foundations: ideas, people, infrastructure, business environment, and places.
- It addresses four "Grand Challenges": growing the AI and data economy, clean growth, the future of mobility, and an aging society.
- Initiatives include increasing R&D funding, developing skills programs, investing in infrastructure, partnering with industry through Sector Deals, and supporting local economic development.
This document outlines the UK government's science and innovation investment framework for 2004-2014. The key points are:
1) The government aims to increase total UK investment in R&D from 1.9% to 2.5% of GDP by 2014 to strengthen the country's knowledge base and competitiveness. This will require average annual growth of 5.75% across public and private sector R&D.
2) As part of this, the government is increasing funding for science through the DTI and DfES at an average annual rate of 5.8% over the 2004-2007 period. The targets and indicators outlined will be used to monitor progress towards the overall goals.
3) The framework
The document summarizes the state of play in EPA negotiations between the ACP countries and EU regarding mineral resources, and discusses implications of the EU's Raw Materials Initiative for ACP countries. Key points include: 37 ACP countries have initialled/signed interim EPAs with the EU, which include commitments on elimination of export taxes and market access for mining products. Final EPAs are still under negotiation. The EU's RMI aims to secure access to raw materials from countries like those in Africa, which have large reserves, presenting both challenges and opportunities for ACP mineral-rich countries in terms of governance, policy space and negotiating capacity. ACP countries should strengthen institutions and engage with the EU to ensure mining deals benefit local economies.
This document provides an overview of business opportunities for foreign investment in Cuba between 2017-2018. It discusses the advantages and legal framework for foreign investment in Cuba. Key sectors highlighted for foreign investment include agriculture/foods, sugar, industry, tourism, energy, mining, transportation, biotechnology, health, construction, telecommunications, banking/finance, and culture. Specific projects are outlined in the Special Economic Development Zone of Mariel and each sector. Guidelines are provided for different foreign investment partnership models including joint enterprises and international economic partnerships.
The document contains forward-looking statements about the company's business outlook, future economic performance, and financial projections. These statements are estimates based on currently available information and involve risks and uncertainties that could cause actual results to differ materially. Risks that could affect the accuracy of the forward-looking statements are identified in public filings with the SEC. Forward-looking statements should be considered in light of these risk factors.
SQM is a global producer of specialty plant nutrients, iodine, lithium, and industrial chemicals. In 2015, SQM reported revenues of $1.7 billion and EBITDA of $724 million, with a 42% EBITDA margin. SQM has unique and abundant natural resources in Chile, including the world's largest deposits of nitrates and iodine. It is also the lowest cost producer of lithium globally. SQM has a solid financial position and expects higher sales volumes and capital expenditures in 2016.
SQM is a global producer of specialty plant nutrients, lithium and industrial chemicals. It has unique and abundant natural resources in Chile. It has a solid financial position with revenues of $1.8 billion, EBITDA of $758 million and a debt to equity ratio of 1.01. SQM has leading market positions in speciality fertilizers like potassium nitrate and industrial chemicals like solar salts. It is also the lowest cost producer of lithium and a major player in iodine.
The Philippines is currently in 35 Bilateral Investment Treatises, wherein most of those are either unutilized to the fullest or unutilized at all. This is due mainly to the lack of resources and researcher on trade and investment in the Philippines to help policy makers in deciding and forging sounds strategies. Another is because of the country characteristics
SQM is a global producer of specialty plant nutrients, lithium and industrial chemicals. It has unique and abundant natural resources in Chile. It has a solid financial position with revenues of $1.8 billion, EBITDA of $758 million and low debt levels. SQM holds leading market positions in speciality fertilizers like potassium nitrate and niche industrial chemicals like solar salts. It also has opportunities in lithium and metallic exploration.
The document discusses Mexico's economic development and trade evolution, highlighting its role in global supply chains. It also examines Mexico's approach to trade facilitation and analyzes the medical devices industry as a case study. Some key points:
- Mexico has experienced significant growth in exports since NAFTA, now representing 33% of GDP, but remains reliant on exports to the US and in a few key industries.
- As a part of global supply chains, Mexico specializes in downstream production, importing unfinished goods and adding value before re-exporting. This limits value capture.
- Mexico has implemented initiatives to facilitate trade and ease the import-export process through programs administered by the Secretary of Economy.
Constraints on economic development revision packMatthew Bentley
This document discusses several key constraints on economic growth and development, including infrastructure gaps, primary commodity dependence, macroeconomic instability, conflicts and corruption, and human capital weaknesses. It provides examples of each constraint in different countries and regions. Infrastructure deficiencies like inadequate power, roads, sanitation and transportation networks increase costs for businesses and limit connectivity. Reliance on volatile primary exports also exposes countries to economic shocks from falling commodity prices. Conflicts, corruption and poor governance undermine stability, investment and equitable resource allocation.
This document discusses foreign direct investment (FDI) in India. It outlines the history of India's approach to FDI from cautious in the 1940s-1960s, to restrictive in the 1960s-1970s, to semi-liberalization in the 1980s-1990s. Recent FDI has increased significantly, with major investments from countries like Mauritius, Singapore, and the US. Key challenges to increasing FDI include developing infrastructure, promoting equitable growth between rural and urban areas, gaining political support for reforms, and addressing taxation issues. Overall, the document analyzes India's changing policies toward and recent trends in foreign direct investment.
1) Kuwait has a population of 2.9 million people and its economy relies heavily on oil and natural gas exports, which contribute around 59% of GDP.
2) McDonald's first opened in Kuwait in 1994 and now has over 68 restaurants and 2,300 employees across the country. All McDonald's restaurants in Kuwait are locally owned and operated.
3) McDonald's is testing its new "Create Your Taste" burger platform in Kuwait, aiming to offer customers premium gourmet customization while maintaining fast service.
The document discusses the role of the private sector in Pakistan's development and issues related to privatization. It notes that industrialization is key to rapid development and that Pakistan had a negligible industrial base at independence. The private sector has an important role to play in infrastructure development, as the public sector alone cannot fulfill these responsibilities. Privatization aims to attract foreign investment, increase efficiency and production, boost exports, and reduce debt burdens. However, issues like infrastructure deficits, regulatory weaknesses, and lack of skilled labor pose challenges to private sector growth in Pakistan.
This document is the October 2020 World Economic Outlook report published by the International Monetary Fund. It provides projections for the global economy following the severe downturn caused by the COVID-19 pandemic, as well as analysis of economic challenges and policy considerations. The report expects only a partial recovery in 2021 and estimates that the damage to supply potential could lower medium-term growth. It also discusses risks to the outlook, including the possibility of more severe downturns, and recommends near-term policy priorities of ensuring health resources and limiting economic damage, along with enhanced multilateral cooperation and policies to address long-term challenges.
SQM is a global producer of specialty plant nutrients, lithium and industrial chemicals. It has unique and abundant natural resources in Chile. SQM has leading market positions in several businesses including potassium nitrate, iodine, lithium and industrial chemicals. It has a solid financial position and expects higher sales volumes and prices in 2016 for key products like lithium and solar salts.
Innovation Policy by Fergus Harradence BISTal Oron
A presentation by the deputy director for innovation policy, Mr. Fergus Harradence @ a talk organized by the Entrepreneurs Interactive Society, Imperial Business School
A Creative Block? The Future of the UK Creative IndustriesThink Ethnic
The document provides an overview of the future of the UK creative industries. It begins by reviewing the 2007 report "Staying Ahead", which celebrated the success of the UK creative industries but also identified some underlying vulnerabilities. Since its publication, the recession and trends like convergence, digitalization, and international competition have impacted the industry. The report examines these changes and their implications. It argues the UK creative industries still have growth potential but face challenges from global trends and competition that require a policy response to ensure they can continue contributing to the UK's economic recovery and future growth. The conceptual tools from "Staying Ahead" still provide value but require some revisions to fully capture today's context.
The document discusses the future of manufacturing in the UK. It finds that manufacturing will be very different by 2050 and will face both opportunities and challenges. Key points include:
- Manufacturing will be faster, more responsive to customers, and integrated with services. Products and processes will be more sustainable. The sector will also be more dependent on highly skilled workers.
- The UK government needs to help manufacturing adapt by focusing on workforce skills, access to financing, and developing a new office dedicated to coordinating long-term manufacturing policy.
- For the UK to succeed, both government and industry must prepare for the significant changes ahead and work to realize opportunities while meeting coming challenges.
Future of manufacturing: a new era of opportunity and challenge for the UK - ...bis_foresight
Foresight project looking at the long-term picture for the UK manufacturing sector between now and 2050.
Read the full report here: http://www.slideshare.net/bis_foresight/future-of-manufacturing-a-new-era-of-opportunity-and-challenge-for-the-uk-project-report
For more information, see: http://bit.ly/FoMn
The UK has the leading global FinTech ecosystem based on an analysis of 7 regions across 4 attributes: Talent, Capital, Policy, and Demand. The UK ranks highly across attributes and particularly excels in supportive government policy. While the UK leads in many areas, California has a larger FinTech investment market and stronger tech talent pipeline. Maintaining the UK's position will require continued efforts to support FinTech growth given rising competition from other regions.
The document outlines the UK's Industrial Strategy, which aims to boost innovation, skills, infrastructure, business growth, and local economies. Some key points include:
- The strategy focuses on five foundations: ideas, people, infrastructure, business environment, and places.
- It addresses four "Grand Challenges": growing the AI and data economy, clean growth, the future of mobility, and an aging society.
- Initiatives include increasing R&D funding, developing skills programs, investing in infrastructure, partnering with industry through Sector Deals, and supporting local economic development.
This document outlines the UK government's science and innovation investment framework for 2004-2014. The key points are:
1) The government aims to increase total UK investment in R&D from 1.9% to 2.5% of GDP by 2014 to strengthen the country's knowledge base and competitiveness. This will require average annual growth of 5.75% across public and private sector R&D.
2) As part of this, the government is increasing funding for science through the DTI and DfES at an average annual rate of 5.8% over the 2004-2007 period. The targets and indicators outlined will be used to monitor progress towards the overall goals.
3) The framework
Future of manufacturing: a new era of opportunity and challenge for the UK - ...bis_foresight
Foresight project looking at the long-term picture for the UK manufacturing sector between now and 2050.
Read the summary report here: http://www.slideshare.net/bis_foresight/13-810futuremanufacturingsummaryreport
For more information, see: http://bit.ly/FoMn
Industrial Strategy: update of summary slides August 2013bisgovuk
Updated summary slides on the Government's rationale behind and approach to Industrial Strategy. Includes progress update on sector and technology strands.
This document discusses investing in regional infrastructure in the UK to drive economic growth. It argues that the UK needs to invest more in infrastructure beyond 2020 to realize its full trade potential. Specifically, it recommends focusing investment on key UK city regions like the "Northern Powerhouse" and Greater London area to drive faster overall growth. It also recommends improving global air links to connect the UK to areas of greatest economic growth and enabling more international business. Expanding airport capacity, beginning with Gatwick airport, is seen as important to avoid delay and uncertainty.
This document discusses the importance of investing in regional infrastructure in the UK to drive economic growth. It argues that the UK needs to invest more in key regional city centers beyond London to create a series of interconnected regional growth hubs. Specifically, it recommends focusing investment on improving road, rail, air and maritime links between major cities like Birmingham, Manchester, Liverpool, Leeds and Newcastle to boost trade, innovation and economic activity in these regions. The document also stresses the importance of improving global air links from regional airports to connect UK businesses to fast-growing international markets in Asia and elsewhere.
The document discusses how the ICT industry in Europe is affected by the economic downturn. It outlines the main challenges as reduced IT budgets, increased competition, and difficulties obtaining financing. However, it also discusses hopes for the industry, as ICT is critical to economic growth and some areas like cloud computing still have potential. It recommends companies adapt to changes, look to local and international markets, and that the ServiceOne Alliance could provide opportunities for collaboration between members.
Brian MacAulay, Director of the Innovation Index at NESTA, gave this presentation at a workshop on 'innovating out of recession' held at the West Midlands Regional Observatory's Annual Conference, 20th October 2009.
How do uk med tech startups cope with the capital pressureRina Nir
This was presented at the UK MedTec 2014 event by Dr. Dror Nir, managing partner in RadBee.
Dror analyses the financial eco-system of the UK MedTech segment based on data that was published in reports by the department of Business Innovations and Skills (BIS) in 2013, E&Y and KPMG. The bottom-line outcome of his analysis is that the majority of UK MedTech companies, particularly the startups, are straggling to survive with very little opportunities to carry on innovations.
New approach for sustaining long-term innovation is suggested.
The document summarizes views from UK industry leaders on innovation in the electronic systems sector. Leaders see opportunities in new technologies like low-power devices and connected healthcare, but note the UK has struggled to scale startups into global brands. They call for better alignment of government initiatives with industry needs to help innovative UK firms achieve national and export success through public sector deals and regulated markets. Leaders stress that people remain the UK's best asset and that engineering must be made a more attractive career to sustain innovation-driven growth.
The ICAEW hosted a roundtable discussion on financing a low carbon economy. Participants identified a lack of commercial and financial skills in cleantech businesses as a barrier to growth. They stressed the need for business support and improved investor relations. Investors are deterred by high risks in cleantech. The government must incentivize private funding and provide guidance on financing options. The regulatory environment also poses barriers and needs reform. Participants supported R&D tax credits and fiscal incentives to drive demand for green products. Government procurement was seen as important for stimulating cleantech investment and demand. The government should focus funding on creating clusters of excellence in specific cleantech sectors.
The UK Green Investment Bank was established in 2012 with £3 billion in funding to accelerate the UK's transition to a green economy. It aims to be "green and profitable" by addressing market failures and crowding in private investment for renewable energy projects. Its mission is made challenging by risks and uncertainties around new clean technologies, as well as political and regulatory hurdles. The UKGIB must develop an investment framework to set appropriate hurdle rates that balance the time value of money with risks for green infrastructure projects while delivering returns. It is considering investments in offshore wind projects that could help meet the UK's renewable energy targets but require careful due diligence around construction risks.
The document outlines the UK government and aerospace industry's commitment to an Aerospace Industrial Strategy and Aerospace Technology Institute (ATI). Key points:
- The strategy was developed through the Aerospace Growth Partnership between government and industry leaders to support the UK's position as the second largest aerospace sector globally.
- The ATI will represent a joint £2 billion government and industry investment over 7 years to fund research and technology, providing certainty for innovation.
- Industry leaders express their commitment to the strategy and ATI, believing it can make a material difference to competitiveness and investment decisions, securing the UK's role in aerospace.
This document provides a summary of the ERC State of Small Business Britain Conference in 2019. It includes summaries of multiple presentations and sessions at the conference on topics related to small businesses in Britain, including:
- An overview of the state of small businesses based on recent statistics showing declining confidence, entrepreneurial activity, and business profitability.
- A discussion of the UK government's industrial strategy and sector deals to increase productivity in key industries like life sciences, automotive, and construction.
- Presentations on unlocking growth in the creative sector, the challenges facing an automotive SME after 11 years in business, and the future prospects for small businesses in the automotive industry in light of trends in the UK
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
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NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
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During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
3. Contents
Foreword 3
1. Supporting UK innovation and growth 4
2. A globalised British economy 6
3. The approach to investment 8
4. Investing across the UK 10
5. Next steps 11
6. Where investments are being made 12
6.1. Advanced Manufacturing 12
6.2. Low Carbon Energy 16
6.3. Ultra-Low Carbon Vehicles 18
6.4. Life Sciences 19
6.5. Digital Britain 20
6.6. UK Innovation Investment Fund 21
6.7. UKTI 22
Annex A – List of publications with SIF announcements 24
1
4. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
2
5. Foreword
The £750 million Strategic Investment Fund was created
at Budget 2009 to invest in the UK’s basic capabilities for
industrial innovation, job creation and growth in a highly
competitive global economy.
In the six months since its creation, the Strategic Investment
Fund has committed to investments in a range of emerging
industrial strengths in Britain, including low carbon vehicles,
wind and wave power and renewable chemicals. It is providing seed capital
for a growth fund for high-tech companies and investing in the swift rollout of
high speed broadband in the UK.
The Strategic Investment Fund is not about national ownership of companies
or direction of industries. Instead it has identified areas where targeted
intervention by government can unlock viable technological development
or help get good ideas off the drawing board. It is an important part of our
commitment to actively preparing Britain’s economy for a balanced and
sustainable recovery.
This report sets out the principles behind the Strategic Investment Fund and
details of the investments that it has committed to in 2009.
Peter Mandelson
3
6. 1
Supporting UK
innovation and growth
In Budget 2009 the UK government established the Strategic Investment
Fund (SIF) to support a range of targeted investments across the UK economy
intended to strengthen its capacity for innovation, job creation and growth.
The Strategic Investment Fund is a two year time-limited fund set at
£750 million. Since its creation it has made a wide range of commitments
to a diverse range of projects. These include support for low carbon
technologies, advanced manufacturing, British digital infrastructure and UK
export promotion.
While it is not a fund that has been open for bidding from organisations or
businesses to fund their specific projects, officials from the Department for
Business, Innovation and Skills have been working with other government
departments and agencies, business, the Technology Strategy Board, the
Regional Development Agencies and Scotland, Wales and Northern Ireland to
identify suitable investments. In many cases, SIF projects have taken the form
of joint investments with some of these key stakeholders, most notably the
low carbon projects which have been joint investments with the Department
of Energy and Climate Change. This report sets out in detail the projects and
technology areas that have already benefited from SIF support. These include:
l A range of new advanced manufacturing technologies, including printable
electronics and industrial biotechnology;
l A range of low carbon energy technologies, including funding for some of
the world’s most advanced facilities for testing new wave and tidal energy
technologies;
l The world’s largest demonstrator programme of its type for ultra-low carbon
vehicles;
4
7. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
l A new growth capital fund for high-tech companies – the Innovation
Investment Fund;
l Investment in the swift rollout of high speed broadband to almost every
home and business in Britain within a few years;
l Strengthening our support to UK exporters, especially in the emerging
economies.
5
8. 2
A globalised British
economy
The UK economy that emerges from the current downturn will continue to
be defined by globalisation, which will create huge opportunities for British
businesses, although it will also bring new competitive pressures.
Increased competitive pressure from emerging economies mean that the
comparative advantages of UK firms will continue to be focused in high-
value goods and services based on sophisticated knowledge and skills. The
fragmentation of global supply chains means that British firms are likely to
increasingly produce and trade in intermediate goods rather than finished
consumer products.
They will also be responding to a number of broad global trends:
l Rising global incomes, especially in the emerging economies, will drive
consumer demand for sophisticated, higher value-added products;
l Increased demand for environmental goods and services, both a general
function of rising incomes and a general global shift. This will be reinforced
by international agreements to reduce carbon emissions which will drive up
demand for more low carbon goods and services;
l New technologies will drive the development of new products. The
strength of global demand for products which offer new functionality,
entertainment or luxury to both consumers and businesses will remain
considerable, even as the life cycles for these products shorten;
l Ageing populations will also impact on consumer demand. Over the next
twenty years the ratio of elderly to the working age population is expected
to increase by 40-60% in the advanced economies. In contrast, emerging
economies will see an increase in the number of people under 25.
6
9. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
An objective assessment of the UK’s core strengths in this global economy
suggests that the UK has a comparative advantage in many services sectors,
in particular high value added professional services such as financial services,
computer & information services and other business services, but also
strengths in manufacturing sectors such as medical and pharmaceutical
products (Figure 1).
Financial services (7.7%)
Insurance (1.1%)
Communications (1.1%)
Other business services (10.2%)
Telecoms Equipment (8.1%)
Computer and info. services (1.9%)
Medical and Pharma Products (3.7%)
Machinery and Transport Equip. (8.2%)
UK
Other Manufactured Goods (9.9%)
Emerging Market
Chemicals and Related Products (5.7%)
Office Machinery and Equip. (3.1%)
Road Vehicles (5.3%)
Food, Drink and Tobacco (3.0%)
Metals and Metal Products (3.9%)
Electrical Machinery (3.2%)
Clothing and Textiles (1.6%)
-0.7 -0.6 -0.5 -0.4 -0.3 -0.2 -0.1 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7
Figure 1: UK and Emerging Market Revealed Comparative Advantage
Source: BIS Calculations based on UNCOMTRADE and IMF Balance of Payments data, 2006
Investments made by the Strategic Investment Fund reflect the opportunities
arising from the wider global trends and aim to build on the UK’s core
strengths.
7
10. 3
The approach to
investment
The Strategic Investment Fund is administered on the basis of a number of
core principles:
l The government is not substituting itself for the market. Investments
do not support projects that are ultimately unsustainable in the long term in
an open competitive market. They are targeted at specific market failures
that are preventing otherwise viable developments. Where possible, the
Strategic Investment Fund will reinforce business or expert-led bodies such
as the Technology Strategy Board in determining what is commercially
viable.
l The basic criteria for investments are the opportunity that exists in a
particular area and the impact that government intervention would
have. Investments are not a reflection of a sector’s relative importance to
the UK economy, but a reflection of where government investment can
have the greatest benefit.
l The Strategic Investment Fund targets a diverse portfolio of
investments across a range of sectors (Figure 2) but also geographically,
to ensure widespread benefits across the economy.
8
11. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
Wave/marine 5%
Life Sciences 4%
Offshore wind 19%
Aerospace 38%
Multi-sector 14%
General Manufacturing 1% Automotive 4%
Other High Tech Manufacturing 3% Construction 2%
Electronics 2% Industrial biotech 2%
Communications 6%
Figure 2: SIF investment portfolio, by sector1
Source: BIS
l Investments target measures that are non-sector and non-product
specific as well as sector specific. For example, SIF funding for the
Technology Strategy Board enables it to invest in pre-commercial
technologies across a wide range of sectors and the UK Innovation
Investment Fund, managed by an experienced Fund of Funds Manager, will
provide venture capital for a diverse range of high-tech firms. The SIF has
provided support for a number of national centres for demonstration and
research for pre-commercial technologies.
l All investments are consistent with Treasury Green Book principles
and will be monitored carefully to determine their effectiveness. While
these investments will primarily be made over 2009/10 and 2010/11, the full
impact of them will last into future years, with the aim of lasting impacts on
the UK economy in recovery.
1
Note these are not SIC classifications of sectors, but a high level breakdown of SIF spend so far.
9
12. 4
Investing across
the UK
Each investment is part of the SIF portfolio designed to have benefits across
the UK economy, ranging from the UK Innovation Investment Fund to sectoral
investments to support specific projects. Although some projects are physically
located in particular places, they are designed to provide support to businesses
across the UK and will have wide-reaching benefits to supply chains across the
whole of the UK.
A significant amount of the funding is being invested jointly with key delivery
partners. For example, the Technology Strategy Board has an important
role in stimulating innovation in those areas which offer the greatest scope
for boosting UK productivity and growth. Funding across its portfolio of
programmes will be allocated on the basis of UK capability, market opportunity,
impact and leverage. These programmes are well aligned to delivering the
vision set out in the detailed policy statements that government has made, for
example in Life Sciences, Digital Britain and the UK Low Carbon Transition Plan.
10
13. 5
Next steps
This is an interim report and not all of the Strategic Investment Fund has been
allocated to projects. BIS continues to work on a number of proposals for
investing these funds and will make further announcements in the near future.
BIS officials are working with partners, including in other government
departments, the Technology Strategy Board, the private sector, Regional
Development Agencies and in Scotland, Wales and Northern Ireland, to ensure
successful delivery.
11
14. 6
Where investments
are being made
The rest of this document sets out the specific projects and sectors that are
being supported by the SIF of the £750 million that has been allocated so
far. Annex A lists the documents where these announcements have been
made in recent months.
6.1 Advanced Manufacturing
In July, a £150 million package of targeted investments, with major new
measures to help Britain’s advanced manufacturing base create competitive
advantage for future growth was announced2. These measures are to help UK
manufacturers seize the opportunities provided by emerging technologies.
Advanced manufacturing describes businesses which use a high level of design
or scientific skills to produce technologically complex products and processes,
usually of high value. The measures taken by the government aim to expand
access to information, encourage the take-up of new technologies and address
specific challenges faced by different sectors within advanced manufacturing.
The SIF is providing support to a number of projects within this:
Tim Bradshaw, the CBI’s Head of Enterprise and Innovation, said:
“It is good the government is recognising the value of advanced
manufacturing, and we hope this package of measures will spur
the development of the UK’s hi-tech base… Investing in these
technologies now will give the UK a competitive edge, and create
an important market for high value exports in the future.”
2
http://www.berr.gov.uk/files/file52374.pdf
12
15. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
l Investment of £45 million, through the Technology Strategy Board
collaborative R&D delivery programme, to support research and technology
critical to the development of low carbon aircraft engine technology. The
Technology Strategy Board is considering a number of projects, to be led
by Rolls-Royce, under the heading of SILOET (strategic investment in low
carbon engine technology);
TUC General Secretary, Brendan Barber said:
‘High value manufacturing should be at heart of plans to get the
UK out of recession. Measures announced recently, such as the
£45 million investment in low carbon technology at Rolls-Royce,
will create jobs and boost growth across the country.’
l A £12 million expansion of the Printable Electronics Centre. Printable
electronics focus on cutting edge processes that allow circuits to be printed
into flexible surfaces, unlike traditional silicon chips. The centre was formally
opened in March 2009 focusing on display technology. The expansion,
supporting growth in low carbon products, will enable it to offer capability in
the manufacturing of ultra-efficient lighting and photovoltaics and contribute
to the low carbon agenda. Over the next four years, the facility will focus on
exciting new display technologies, stimulating the creation of up to 250 jobs
in the North East and up to 1,500 jobs nationally by 2014;
l An additional £5 million for collaborative R&D as part of the Technology
Strategy Board’s High Value Manufacturing competition. This is in addition
to the £24 million invested earlier this year in projects that have the potential
to bring about a step change in the competitiveness of participating
companies by making improvements in the range of 25-50% relative to
current performance on, for example, overall manufacturing costs; product
performance, durability and reliability; or, time to market. The scope of this
funding could lead to a range of improvements for example, in resource
efficiency and sustainable processes, design and innovation processes, or
collaboration within value chains.
l An £8 million expansion of the highly successful Manufacturing Advisory
Service over 2009/10 and 2010/11. £4 million will enable a wider range of
businesses to improve efficiency and increase orders. A further £4 million
will provide more specialist advice to manufacturers on competing for low
carbon market opportunities.
13
16. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
l £2 million investment (joint with the South West RDA with a £0.5 million
contribution from the SIF) to support the development of a Centre of
Excellence for Silicon Design. Silicon electronics is the design, development
and manufacture of extremely small electronic devices on wafers of single-
crystal silicon that consume very little electric power. The investment will
support innovative activity as well as skills development and networking in
the sector.
l £12 million of support for an Industrial Biotechnology demonstrator and
a £2.5 million fund (via the Technology Strategy Board) to enable small
and medium sized companies to access demonstration facilities. These
investments reflect the importance of industrial biotechnology in advancing
our capabilities in the chemicals and chemistry-using sectors. Regional
Development Agency One North East has earmarked up to £1.5 million to
help strategic partners in the region to access the facilities. This funding
will help many sectors of the economy access the opportunities industrial
biotechnology presents.
Dirk Carrez, EuropaBio’s Director, Industrial Biotechnology said:
“A competitive European Knowledge-based Bioeconomy can only
be realised when the European Union and the member states put a
coherent policy framework in place. What has been done in the UK
will motivate industry to continue investment in this emerging and
innovative industrial sector”.
14
17. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
Box A: Industrial Biotechnology Demonstrator
The £12 million investment is building on existing facilities in the North
East which have already provided support to businesses from across
the UK since 2007. Industrial biotechnology (IB) is not a true sector, as it
is technology based and as such that technology can be applied across
sectors. The UK has significant strengths in IB development, with key
operations spread across the UK. Demand for the new facility indicates
that it will benefit the industry by providing access to new facilities and
expertise to IB companies as well as companies from the chemicals
and chemistry-using sectors. Considerable interest has already been
expressed from a range of IB companies as well as companies operating
in the chemicals and chemistry-using sectors, located across the whole
of the UK. These include pharmaceuticals, personal care, coatings, food
processing and beverage companies, as well as businesses operating in
other sectors such as energy, automotive and aerospace, and have an
aggregate output of some £1150 billion and an added value of over £550
billion.
Box B: Airbus Launch investment
In August 2009, Government announced agreement to provide £340
million of repayable launch investment to Airbus for the development of
the A350 XWB.
The support, drawn partially from the SIF, will ensure the UK plays
a leading role in the development of the A350 XWB, with world
leading capability in wing, landing gear and fuel integration systems
technologies.
This Airbus investment builds on HMG’s track record of support for
earlier Airbus programmes, such as the A380 in which we invested £530
million from 2000. In total, since 1997 HMG has provided around £1.5
billion of support for strategically important civil aerospace programmes
and received repayments to date of £1.7 billion.
15
18. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
6.2 Low Carbon Energy
The widescale development and deployment of renewable and low carbon
energy is a key aspect of the UK’s transition to a low carbon economy.
Government has a vital role to play in supporting business in developing these
new technologies and incentivising investment in the UK. This is why the
SIF and the additional £155 million allocated to DECC in Budget 2009 for the
Environmental Transformation Fund, are supporting a range of investments
in renewable energy and low carbon technologies. These investments
by government will support business in making the most of low carbon
opportunities, access to facilities for R&D, and reducing costs of manufacturing
in the UK3.
TUC General Secretary, Brendan Barber said:
‘By leading the way and not simply leaving the shape of the UK’s
greener future to the whims of the market, ministers have shown
how they intend to help firms and the UK workforce move into the
new low carbon era.’
The UK has already demonstrated considerable strengths in some aspects
of renewable energy, notably the development and testing of wave and
tidal technologies.
This is why a number of investments have been focused on ensuring that
research and development facilities for wave and tidal are world-class. The Low
Carbon Industrial Strategy announced up to £60 million to help accelerate the
development and deployment of wave and tidal energy in the UK.
This new funding will support Wave Hub – a groundbreaking project in
the South West of England creating the UK’s first offshore facility for the
demonstration of wave energy generation devices (see Box C); testing facilities
at the New and Renewable Energy Centre (NaREC) and the European Marine
Energy Centre (EMEC) and a Marine Renewables Proving Fund to support
testing and demonstration of pre-commercial renewable devices. Together
these facilities will help accelerate the development and deployment of wave
and tidal energy, building capabilities in the UK and cementing our current
position as a global leader in this sector.
3
More information on the supporting low carbon economic analysis can be found in BIS Economics
Paper No 1, ‘Towards a low carbon economy: economic analysis and evidence for a low carbon
industrial strategy’
16
19. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
Tom Delay, Chief Executive of the Carbon Trust said:
‘These announcements are very welcome because they significantly
reduce investment risk, make some clear choices on UK technology
advantage, and tackle some of the key barriers to deployment. But
the true test of this new clean tech industrialism is how this new
policy framework drives the action and investment needed from
business.’
Box C: UK-wide benefits of Wave Hub
There is scope for marine and tidal energy to contribute significantly to
the UK’s renewable energy mix. This represents a significant economic
opportunity for the UK.
These new investments will provide Britain with unparalleled marine
energy testing, development and demonstration infrastructure which will
reduce the technical and financial risks associated with the development
of these technologies.
The investments will bring benefits across the UK, with the manufacture
and development of these facilities providing opportunities throughout
the supply chain.
For example, the Wave Hub investment in the South West will use
suppliers from across the country. One of the first major contracts
awarded by South West RDA has been secured by the Littleport based
JDR Cable Systems to manufacture the cable and hub assembly for
Wave Hub from their new manufacturing facility in Hartlepool. All cables
including fibre optics will be subject to rigorous integration testing
drawing on JDR’s wealth of experience in the design and manufacture of
subsea cable and umbilical systems.
In addition, the government is supporting investment in offshore wind, with up to
£120 million being made available to support a step change in the development
of the offshore wind industry in the UK. This includes funding for new offshore
wind manufacturing facilities in the UK; investment in the development of next-
generation and near-market offshore wind technologies through large scale
demonstration; and examining how to improve the UK’s capability in integrated
17
20. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
offshore wind testing. We have launched a second round of the offshore wind
demonstration scheme to support the accelerated commercialisation of this
technology.
Further to the investments around renewable energy, the Government has
also announced provision of up to £15 million support for capital investment to
establish a Nuclear Advanced Manufacturing Research Centre. It will be led by
a specialist university working with manufacturers from the UK nuclear supply
chain on the development and production of high quality nuclear components
and to achieve the necessary accreditation, skills and capabilities to supply the
civil nuclear market. Rolls-Royce will play a leading role in this work, building on
its longstanding capability in nuclear manufacturing.
Further support in the development of the low carbon economy is focusing on
reducing energy demand. Funding is being provided to make our domestic and
industrial building stock more energy efficient. £10 million is being invested by
the Technology Strategy Board in its Low Impact Buildings Innovation Platform.
This will result in increased support for the ‘Retrofit for the Future’ programme
which will help develop and demonstrate solutions for refurbishment of entire
homes that deliver deep cuts in energy use and carbon emissions.
6.3 Ultra-Low Carbon Vehicles
The development of ultra-low carbon vehicles presents a huge opportunity for
the automotive industry and for the UK. There are many technologies which
can potentially contribute to decarbonising road transport. While these are in
various stages of development and take-up, there is potential for the UK to take
a leading role in commercialising, demonstrating and manufacturing these new
technologies.
There is a diverse range of technologies being developed to deliver ultra-low
carbon vehicles, although plug-in hybrid electric and all-electric vehicles are
expected to have a significant presence in mass markets.
The UK Government is already providing support for the development of low
carbon, including electric, vehicles, for example through the Technology Strategy
Board’s Low Carbon Vehicles Innovation Platform. Funding is also being provided
to support the deployment of enabling infrastructure needed to support them and
also a programme to incentivise consumers to take-up the new vehicles.
With the success of programmes supported so far, the Government has
committed additional funding of up to £10 million for accelerated deployment
18
21. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
of electric vehicle charging infrastructure in the UK and up to £14 million to
expand support for the Low Carbon Vehicles Innovation Platform, including the
demonstrator programme which has now resulted in a combined investment
with other funders of £25 million. The programme will see over 340 low
emission vehicles trialled on UK roads in the next 6-12 months – the largest trial
of its kind in the world.
Paul Everitt, Chief Executive at SMMT said:
“Ultra low carbon vehicles are now mainstream business for the
motor industry. The Technology Strategy Board’s competition
provides the ideal incentive to develop and demonstrate new
technologies in the UK and the beginning of an important new
phase in the development of the UK motor industry.”
6.4 Life Sciences
The UK is a world leader in life sciences (pharmaceuticals, medical
biotechnology and medical technology). It is a key high-tech industry that will
play a vital role in driving future growth and prosperity as well as meeting future
challenges such as an ageing population.
Industry has a vital role in the future UK life sciences growth and Government
has a key role in supporting industry by shaping the conditions in which UK
businesses operate.
This is why the Strategic Investment Fund has provided additional support to
the work on Life Sciences (see Box D for more detail) with the Technology
Strategy Board investing up to £11 million in life sciences – including
contributions towards its £18 million of support for regenerative medicine and
scoping work in partnership with the MRC to explore the case for developing a
new Innovation Platform in stratified medicine.
In addition, £12 million from the SIF, alongside funding from the East of England
Development Agency, the Technology Strategy Board, the Wellcome Trust
and GlaxoSmithKline will be invested to create a unique drug development
bio-incubator. This will be located in Stevenage, Hertfordshire and, in its first
phase, it will be home to around 25 companies with long-term plans to expand
the available space 5-fold. It is looking to attract inward investments, spinouts
and start ups. It will provide access to specialist equipment and services and
knowledge sharing on drug development.
19
22. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
Box D: Life Sciences
The Office for Life Sciences (OLS) was set up in January providing an
example of Government’s active approach to industrial policy in the life
sciences. The Life Sciences Blueprint, published on 14 July 2009 sets
out a package of measures to transform the UK environment for life
sciences companies. The actions fall in four key areas:
l The NHS as an innovation champion;
l Building a more integrated life sciences industry;
l Access to finance and stimulating investment;
l Marketing the UK life sciences industry overseas.
More details can be found in the Life Sciences Blueprint:
http://www.dius.gov.uk/innovation/business_support/ols
6.5 Digital Britain
The Digital Britain Report4 (published June 2009) sets out the Government’s
vision for:
l Ensuring the country has the modern communications infrastructure we
need;
l Enabling Britain to be a global centre for creative industries in the digital age;
l Ensuring people have the capabilities and skills to flourish in the digital
economy; and,
l Making sure we modernise and improve our own service to the taxpayer
through use of digital technology.
The Digital Britain Report sets out a comprehensive list of actions in pursuit of
these goals.
The SIF is funding some key elements of this, contributing to delivering
universal availability of broadband (with joint funding of around £200 million
4
http://www.culture.gov.uk/what_we_do/broadcasting/6216.aspx
20
23. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
from the SIF and money allocated to the help scheme for Digital Switchover in
television) and work on digital test beds. The Universal broadband commitment
is intended to ensure areas which have not benefitted from private investment
in broadband networks are provided with a good level of service. This will be
added to by private sector investment, levered through competitive contract (ie
subsidy offered on a ‘reverse auction’ basis); and contribution from other public
sector organisations in the Nations and Regions. In addition, the Technology
Strategy Board will invest up to £10 million to expand work in support of the
Digital Britain agenda with a particular focus on Digital Test Beds and improving
the competitiveness of creative content businesses.
6.6 UK Innovation Investment Fund
The Government is also addressing problems faced by small, high growth
technology-based companies in accessing equity-finance through development
of a commercial Fund of Funds. This will be set up with a cornerstone
investment of £150 million from government (with contributions from the
SIF, the Department of Energy and Climate Change and the Department of
Health). The Fund will be managed by an experienced Fund of Funds Manager
with a proven track record in technology investing. Investments in underlying
technology funds will ultimately be a commercial decision for the Fund of
Funds manager and the government investment will leverage in funds from the
private sector with the aim of creating a £1 billion fund over 10 years.
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24. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
6.7 UKTI
Reasserting the UK’s worldwide business reputation is central to economic
recovery. UKTI’s strategy is to market the economic strengths of the UK and
the innovation, creativity and expertise of Britain in high value sectors. This
attracts potential investors to the UK and helps our exporters sell themselves
more effectively as international partners of choice.
The value of this strategy was confirmed in the 2009 Budget, with £10 million
of the Strategic Investment Fund being channelled into UKTI, to be spent
on events to promote UK sector expertise both in the UK and abroad. The
funds are to help UK businesses better showcase their strengths to overseas
customers and markets. All projects must meet the following criteria:
l High value and visibility to UK business;
l Early impact with strong legacy which the private sector can run with;
l Directly related to the New Industry, New Jobs strategy;
l Leverage multiplying effects from partners to reach the widest possible
audience.
Commitments in 2009/10 include:
l Up to £1 million (with potential to leverage £0.3 million from the private
sector) for a major security sector event in February 2010, building on the
success model offered by the Farnborough International Air Show;
l A further package of up to £2.8 million for events across the spectrum of
NINJ sectors (advanced engineering, creative industries, energy, low carbon,
construction, ICT and financial services) kicking off in September 2009
with London Fashion Week and the London Design Festival. Other events
include a showcase for the advanced engineering sector in Brazil in October,
Technology World in Coventry in November and a consumer electronics
show in the USA in January 2010;
l As part of the suite of actions being coordinated by the Office for Life
Sciences, an investment of up to £1 million over two years to promote UK
life sciences and the NHS at flagship events in the UK and overseas. UKTI
will hold a new high-level technology partnering event later in 2010 that will
bring life sciences decision-makers to the UK;
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25. T H E U K S T R AT E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
l Enhanced showcase marketing of up to £1 million to support the sectors
events and extend the Take it to the World campaign which encourages UK
businesses to export;
l Other projects being developed include a global network of around 1000
influential voices to promote the reputation of the UK for innovation and
creativity, and an enhanced foreign direct investment (FDI) aftercare service
in key sectors and across the English regions to nurture opportunities for
further FDI;
l Beyond this, in 2010/11, a further package of up to £2.5 million for sector
based showcase events.
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26. Annex A – List of
publications with SIF
announcements
Advanced manufacturing: Building Britain’s Future
http://www.berr.gov.uk/files/file52374.pdf
UK Low Carbon Industrial Strategy
http://www.bis.gov.uk/strategy-for-low-carbon-businesses-to-benefit-british-jobs
The UK Low Carbon Transition Plan
http://www.decc.gov.uk/en/content/cms/publications/lc_trans_plan/lc_trans_
plan.aspx
Government response to the Biotechnology IGT
http://www.berr.gov.uk/files/file51891.pdf
Digital Britain Report
http://www.culture.gov.uk/images/publications/digitalbritain-finalreport-jun09.pdf
Building Britain’s Future (UK Innovation Investment fund)
http://www.hmg.gov.uk/media/27749/full_document.pdf
Life Sciences Blueprint
http://www.dius.gov.uk/~/media/publications/O/ols-blueprint
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