CBI comments on technology and innovation centres report

The CBI today commented on the Science and Technology Select Committee Technology and Innovation Centres Report proposals.

Tim Bradshaw, CBI head of enterprise and innovation, said: "We welcome this report and the commitment to identify those existing centres in the UK that will become Technology and Innovation Centres. This will mean existing resources are fully mobilised, will avoid duplication, and deliver maximum benefit for the economy.

"It's right to take a sectoral-led approach when deciding how these systems will work, but the hub-and-spoke model is not a one-size-fits-all solution. The appropriate model must be decided through an industry-led consultation within each sector.

"It's important to concentrate resources and funding on a limited number of technology and innovation centres, so as not to overstretch the £200m budget. The Technology Strategy Board should consider the lower number of six centres, ensuring each has the critical mass to be effective.

"We support the call for long-term funding for Technology and Innovation Centres and for this to come from a range of streams, but the one-third cap on funding from the private sector is too rigid. Opening up the possibility of more funding from the private sector, to constitute 25-55% of the total, will drive greater innovation and growth."