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£50 million boost for Catapult activity and capability in Chancellor’s Autumn Statement 2023

£50 million boost for Catapult activity and capability in Chancellor’s Autumn Statement 2023

Last week, the Government’s Autumn Statement announced a £50 million boost to Catapult funding to further enhance projects across energy, manufacturing, transportation, digitalisation and healthcare.

Innovate UK – the Government’s innovation agency and Catapult sponsor – plans to pave the way for transformative business-led innovation through the new commitments made during the Autumn Statement.

This additional funding is dedicated to specific projects in sectors of strength, including those which will aid the UK’s ambitions for achieving net zero, accelerating health innovation and advancing digital technologies.

Katherine Bennett CBE, Chair of the Catapult Network and CEO of High Value Manufacturing Catapult said:

This is a welcome investment that recognises the vital role that Innovate UK and Catapults play in delivering economic growth.

The high-impact infrastructure investments that add up to £50m will enable Catapults to drive innovation-powered green growth across the UK, equipping supply chains with the world-leading technologies and technical skills they need.

I look forward to seeing these cutting-edge projects shape the UK’s net zero future.

About the Catapult Network

Catapults support businesses in transforming great ideas into valuable products and services. We are a network of world-leading technology and innovation centres established and powered by Innovate UK. We deliver impact across the UK economy, enabling businesses to thrive in global markets.

About Innovate UK

Innovate UK, part of UK Research and Innovation, is the UK’s innovation agency. Innovate UK work to create a better future by inspiring, involving and investing in businesses developing life-changing innovations.

With an annual budget of over £1billion, they provide businesses with the expertise, facilities and the funding they need to test, demonstrate and evolve their ideas, driving UK productivity and economic growth.

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