Six to eight centres to be set up as innovation centres by 2013
The UK government has released a prospectus detailing its plan to set up a £200m network of technology and innovation centres in the country.
Under the plan which was announced by Prime Minister David Cameron in October, six to eight centres are being set up as innovation centres by 2013.
The network will be overseen by the Technology Strategy Board, while universities and businesses will bring the research into the commercial arena and help earn revenues.
The government has invited organisations to create the first centre which will focus on high-value manufacturing.
Talking about the need to have such a network, deputy prime minister Nick Clegg said that the banking crisis had made it clear that Britain needed a new kind of growth.
"It is not right, sensible or fair to be dependent solely on the City of London and on financial services. We should be at the cutting edge of science, manufacturing and technology," he said.
The government has included ICT and electronics sector among the five areas that are being considered for initial investment.
Business secretary Vince Cable said the new centres would help UK to capitalise on future global markets by drawing on leading edge research.