Member Article

Catapult centre to stimulate UK digital businesses

A new hub will support the UK’s world-leading digital businesses as they develop, test and apply new technologies.

The Catapult centre aims to stimulate growth by reducing the risk associated with creating hugely profitable products and services in the future.

The centre will focus on how digital media and content are traded and used; the pervasiveness of digital services, addressing the impact of new technologies and systems such as cloud computing and identity management; and how technology could enhance our physical lives.

Help will also be given to business that are traditionally less active in the digital market place, such as health, retail and education.

A transfer of knowledge from experienced sectors aims to broaden the spectrum of UK businesses that use digital technology to build profitable new business models.

Business Secretary, Vince Cable said: “We have world leading, innovative businesses in the ICT, Digital and Creative sectors which have considerable potential for growth.

“For instance, a few years ago, there were just fifteen technology start-ups around Old Street and Shoreditch, now there are hundreds of high-tech companies in the area, including Holition where I am today.

“I and the rest of the Government want to make sure that we can maintain that position in the future, taking new technologies and using them in an innovative way to make a product or service that people want.

“The Connected Digital Economy Catapult will be instrumental in making sure that happens.

“In the coming weeks, we will be announcing the final areas that will be covered by Catapult centres, further areas where we have a cutting edge which we can support, nurture and exploit to help us rebalance the economy and deliver strong, sustainable and balanced growth.”

The combines market for the UK’s software, ICT and creative industries today accounts for £109bn of GVA.

UK e-commerce is also larger, per head, than any other country, and is forecast to grow 10% per year for the next ten years, contributing 10% of the UK’s GDP by 2015.

Iain Gray, Chief Executive of the Technology Strategy Board said: “We are extremely pleased to be supporting such an important technology area with a Catapult centre.

“With many, if not all, industries searching for ways to utilise digital technology, the opportunity for the Catapult will be enormous.

“It will also be applicable to all internet-using businesses and industries as they attempt to innovate with digital technology to provide consumers and businesses with new products and services.”

The Connected Digital Economy Catapult is another addition to the network of Catapult centres established by the Technology Strategy Board, including the Cell Therapy Catapult and Satellite Applications Catapult.

This was posted in Bdaily's Members' News section by Tom Keighley .