A £75 million boost to support small business innovation is part of a package of measures announced in the UK Government's new Innovation and Research Strategy for Growth. The Strategy, launched by Minister for Universities and Science David Willetts, sets out the Government's plans to boost economic growth through investment in research and innovation across the UK.

The National Physical Laboratory (NPL), as the UK's National Measurement Institute provides knowledge- based services to support the application of science and technology through better measurement, features prominently in the Strategy.

The Strategy points out how the UK's "excellence in teaching and research is underpinned by institutions with a global reputation, such as the British Standards Institution, the UK Accreditation Service, the National Physical Laboratory, and the Intellectual Property Office." It goes on to outline how the Government "will also continue to invest in translational research at Public Sector Research Establishments, such as the National Physical Laboratory, which support businesses to develop innovative products and services. In addition, the established system for funding research, will be maintained based on the principle of supporting excellence with high potential impact, through competitive funding processes."

David Willetts said: "Our new Innovation and Research Strategy is the next step in ensuring the UK provides the best possible environment for entrepreneurs and innovators. A new innovation landscape, combined with continued investment and collaboration with business, will ensure the UK is a world leader in innovation."

Read full version of Innovation and Research Strategy for Growth

Full BIS press release