UK National News - Nanotech projects boosted by £15m funding

23 August 2004

Nanotech projects boosted by £15m funding

Twenty-five nanotechnology projects throughout the country - ranging from anti-corrosion coatings and electronics to water purification and printing – are set to receive £15 million worth of funding, it has been announced today.

Today's grants are the first to be allocated from the government's £90 million micro and nanotechnology manufacturing initiative in support of both nanotechnology applied research programmes and for the creation of new nanotechnology facilities across the country.

A further £3m will be given to INEX, a microsystems and nanotechnology facility for industry based at Newcastle.

This new investment form the trade department will provide up to a maximum of 50% of each project's total value. Further grants will be made available over the next five years to complete the initiative.

The grants are part of a government drive to help organisations exploit the potential applications for new technology – the global market for which could be $1 trillion within the next decade.

Announcing the grants, DTI Minister Nigel Griffiths said: "Nanotechnology is an important and exciting emerging technology one that has the capacity to improve daily life for us all. It is about designing new products and improving existing ones by making things much smaller, faster, stronger, or more energy efficient.

"We want to help organisations turn ideas into reality, helping create jobs and prosperity for companies in the UK."

Other Government programmes in support of the UK's nanotechnology industry include £70 million funding from Research Councils.

(gmcg)