10 August 2018, Birmingham, England – Government has today confirmed a 5-year funding package for the High Value Manufacturing Catapult. The Catapult works to stimulates and supports the commercial application of new technologies through the development of innovative manufacturing processes.
Welcoming the announcement, Allan Cook, Chair of the High Value Manufacturing (HVM) Catapult, said:
“Innovation is a risky business. By removing risk and providing access to expertise and the tools of innovation, the HVM Catapult plays a key role in boosting the performance of manufacturers across the UK. The funding announced by Government means we can build our capability to help firms of all sizes harness the potential of new technologies to improve their productivity, increase their competitiveness and secure new customers around the world.”
The HVM Catapult’s ambition is to improve the UK’s performance in translating the strengths of its world leading research base into the goods and processes which equip the UK’s high value manufacturers for success in challenging global markets. HVM Catapult CEO, Dick Elsy, said:
“The HVM Catapult is perfectly placed to make a full contribution to a successful UK industrial strategy. In our first 6 years of operation we have established a proven track record, generating investment in R&D and driving improvements in manufacturing productivity and competitiveness. The five-year funding package announced today allows us to build on our early successes, broadening our productivity impacts while equipping British firms with the manufacturing innovation they need to compete in uncertain and challenging international markets. Our support has never been more needed.”