technology stragegy board

The government's continuing focus on Silicon Roundabout, which they're dubbingTech City, sees the announcement of a £1m R&D funding competition launching in May.

Backed by the Technology Strategy Board this competition is intended to support small projects, which can then go on to raise further investment, seed capital. As with most TSB funds, this competition requires 50% match funding, but there's a neat difference this time around.

Companies that are successful in winning R&D money from the TSB will then have up to 12 months to approach potential investors to raise the other half of the money, rather than having to have it secured from the get-go.