28/10/2010
The government has launched an initiative that it hopes will help secure Britain's position as the global partner of choice for research and development (R&D) collaboration.
According to an official statement from The Department for Business, Innovation and Skills (BIS), the science minister David Willetts and health minister Lord Howe launched the world's first initiative to boost partnership between academics, clinicians and the life sciences industry.
Mr Willetts commented: "As government works to re-balance and grow the UK economy, it is vital that the UK continues to be an attractive environment and the global partner of choice for all collaboration in life sciences."
It's hoped that by providing a single point of contact for industry engagement, it will help ensure the UK has the commercial environment to support collaboration and maintain and grow world-class private sector research and development in the UK.
As reported by The Independent, the University of Cambridge's Institute for Manufacturing's education and consultancy services organisation said that small and medium sized manufacturing firms are key to the UK's economic revival.
They said this sector is one of the fastest routes to recovery because it creates jobs and boosts indirect employment among supporting industries such as design, marketing and R&D. This is encouraging news for businesses in these sectors, who should be encouraged to generate enough cash to be able to grow in line with the industry. Such plans can be funded through traditional bank loans, trade receivables or outside investment.
Laura Nineham