Deputy Prime Minister Nick Clegg has announced £1 billion additional support for UK businesses at a national conference staged at the Bristol and Bath Science Park.
The funding is part of the Regional Growth Fund and takes the total fund to £2.4 billion.
Nick Clegg is being joined by Business Secretary Vince Cable and his Ministerial team at the Government’s Manufacturing Summit, which is bringing together industry leaders from across the UK to discuss progress, challenges and next steps for the sector.
Issues being discussed include the commercialisation of new technology and research, promoting manufacturing and increasing exports.
Leading manufacturers from across the South West will also be showcasing new technologies and products developed in the region to delegates from across the UK.
Bonnie Dean, chief executive of the Bristol & Bath Science Park said: “As a Science City, Bristol has been recognised for the quality and diversity of its science and research base. Today’s national conference showcases the region’s strengths by focusing on the South West’s businesses who have taken considerable commercial risk to turn original research into sophisticated manufactured products sold nationally and exported internationally.
“The opening of the Science Park in late September last year is part of a long term objective to create a place for industry, academia and government to collaborate and to accelerate the commercialisation of those collaborations.”
Deputy Prime Minister Nick Clegg said: “The Regional Growth Fund is already having a huge impact across the UK. So far there have been over 170 successful bids to the fund, leveraging around £7.5 billion of private sector investment and set to create and protect 330,000 jobs. I want to see more businesses that are confident they can create jobs and get Britain building and making things again, coming forward – making sure their hats are in the ring.”