14th Mar 2012 - 00:00
Abstract
£15 million is to be invested by the Government in new research and development projects and studies that will stimulate innovation and growth in the UK’s food industries.
Responding to the news, Food and Drink Federation director of competitiveness Angela Coleshill said: "Today's announcement could be of particular help to SME (small and medium enterprises) food and drink businesses to help them innovate and continue to invest in new research and development facilities." Up to £15 million will be invested in major rsearch and development (R&D) projects that increase the efficiency, sustainability and competitiveness of the food processing and manufacturing sector, focussing on increasing efficiency and reducing supply chain waste. A further £500,000 – targeted at micro, small and medium-sized companies – will be provided for feasibility studies that will consider better and more cost effective systems and processes, and the delivery of better products and services across the broader agri-food sector. Jim Paice, Food and Farming Minister, said: "The UK has a world class reputation for innovation. I want to take this strength and use it to the economic advantage of the whole country. "That's why the Government is investing £15m in the development of cutting edge ideas that increase efficiency and reduce waste in farming, food and drink production and manufacturing. "By getting businesses innovating and enhancing the UK's reputation as a world class pioneer of new production and manufacturing techniques, the food and farming sector can be a real engine for growth."