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Investment in innovation will pay dividends
I’ll continue with a theme I’ve focused on for a couple of months and which is still grabbing the nation’s headlines – the importance of universities to students across the country and also to the future of business here in Bradford.
The Government has announced plans to invest more than £200 million in Technology and Innovation Centres over the next four years, to drive growth in the UK’s most high-tech industries.
I welcome this investment and believe it will boost the development of Yorkshire as a centre for advanced manufacturing, plastic electronics and regenerative medicine.
It is something which Yorkshire Forward has been focused on for some time, and we know that collaboration with our region’s universities must stand at the heart of this drive.
By investing £11 million in regional Centres of Industrial Collaboration, Yorkshire Forward has helped businesses harness the innovation and cutting-edge expertise from Yorkshire’s universities. The CICs have delivered 1,500 projects with business, grossed more than £38m of income for the region and created or safeguarded 1,400 jobs to date.
It is vital that this important work continues.
Bradford’s own Polymer CIC at the University’s School of Engineering Design and Technology helps companies exploit the vast potential of polymer research for the chemicals and plastics sectors.
A world-class research centre with great industrial experience, the Polymer CIC is a one-stop shop for businesses seeking support for innovation in process and product development and turns its cutting-edge research into business advantage.
It is through centres like these that companies are able to access technology and skills that might otherwise be out of reach. This type of investment plays a key role in helping firms develop new products and processes so they can grow and prosper and in turn benefit our economy. Long may it continue.