UK companies benefit from Eureka funding

Thirty-six UK companies involved in 17 research projects are set to benefit from multi-million pound funding through their involvement in Eureka – the Europe-wide, government-funded technology initiative.

Thirty-one new projects, involving 51 UK companies, were part of this year's European programme and have won the Eureka seal of approval – and of these, 17 projects are sharing the multi-million pound DTI grant.

Co-operation between research institutes and companies, particularly from other European countries brings benefits, including a wider pool of ideas, complementary technical expertise, risk sharing, and access to new and larger markets, the government says.

Science Minister Lord Sainsbury said: "Innovation and investment in R&D are vital for the creation of jobs and long-term prosperity. It is crucial for UK business that new ideas make it beyond the drawing-board stage, and are explored in research projects and developed into successful products.

"The Eureka programme is a great opportunity for UK companies to form strategic partnerships with European counterparts, and I am pleased that so many UK companies are involved, and have received a share in this substantial funding.

"These innovative projects ensure that the UK manufacturing industry continues to take the lead in the generation of new ideas for high quality, value added products and processes for global markets."

Launched in 1985, Eureka is a pan-European initiative for promoting collaborative research in advanced technology. Eureka aims to improve Europe's competitiveness in global markets for civil applications of new technology.

The 34 Eureka member countries include all 15 EU member states.

(GMcG)