Britain’s innovation agency will have a record £440m budget this year to help enterprises turn ideas into reality and bridge the “valley of death” – the perilous process of turning scientific breakthroughs into commercial successes. David Willetts, science minister, said the extra funds for the Technology Strategy Board for 2013-14 represented an increase of more than £50m on last year. Investment will cover areas such as renewable energy, future cities, advanced materials, satellites, digital technologies and healthcare.
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