Paris Air Show 2013: Aerospace technologies to get £90 million boost
Speaking at the Paris Air Show today, the minister unveiled plans to hold a competitive call for businesses, through the Technology Strategy Board, for up to £25 million of government funding. This investment will finance collaborative research and technology projects that are consistent with the objectives of the Aerospace Industrial Strategy.
It will be targeted at small and medium-sized aerospace suppliers who will be invited later in the year to submit bids for a share of the fund. The £25 million will be match funded by the winning businesses, creating up to £50 million of total investment.
This will be the first such call utilising some of the £2 billion joint government and industry funding committed to support the Aerospace Technology Institute (ATI ).
The National Aerospace Technology Exploitation Programme (NATEP ), led by the Aerospace Growth Partnership to address skills shortages and improve research and development collaboration, was also officially launched today after successfully completing due diligence.
This £40 million project is supported by £23 million from the second round of the government’s Advanced Manufacturing Supply Chain Initiative (AMSCI ) and £17 million from industry.
"We have a world-leading aerospace sector underscored by our ability to excel in areas like research & development," said Fallon. "It’s this commitment to innovation through our Aerospace Industrial Strategy that will be a crucial driver for long-term growth.
"If we are to get ahead of the game we must create the right conditions now that incentivise businesses to invest in the UK and develop new, exciting products. This new funding will help to do just that and also ensure a high level of quality projects receive the support they need to get off the ground.
"The National Aerospace Technology Exploitation Programme (NATEP ) is positive news for UK aerospace, and a further demonstration of government and industry working together to strengthen our supply chains."
He added that it was "great to see so many British companies flying the flag for the British aerospace industry" at the Paris Air Show, before commencing on a walkabout of the ADS-hosted UK pavilion to meet some of the exhibitors.
Graham Chisnall, deputy CEO of ADS, said: "The National Aerospace Technology Exploitation Programme will embed important new technology and capability into the UK supply chain. Helping smaller companies to invest and develop new technologies will help us achieve long term competitive advantage. This funding shows that the work of the Aerospace Growth Partnership is delivering benefits at all levels of the supply chain and closely co-ordinates with the work of the Aerospace Technology Institute."
