100m Euro Fund Opens to Strengthen UK Supply Chains
By: Engineering & Technology Magazine June 13, 2014
A £100m fund to help companies strengthen their domestic supply chains and bring manufacturing back to the UK has opened for bids.
The funding, announced in April, is designed to provide research and development support, skills training and investment capital to encourage suppliers to “re-shore” their businesses in the UK.
The money comes from the Advanced Manufacturing Supply Chain Initiative (AMSCI) and, according to the Department for Business Innovation and Skills, five previous rounds of AMSCI funding have secured nearly half a billion pounds of public-private investment for 44 projects in the UK.
Business Secretary Vince Cable said: “A strong manufacturing sector is vital to a balanced economic recovery, and I want to ensure that Britain’s supply chains are up to the task of supporting the sector in the long term.
“Our industrial strategy, which has given business the confidence to invest, is paying dividends in the re-shoring we have seen so far. We will continue to support businesses to secure more highly skilled jobs and a stronger economy.”
Previous recipients of AMSCI funding have included technology for increasing the scale of 3D printing of metals; and re-shoring the manufacture of cats’ eyes for roads from overseas to the UK.
It has also included the creation of a “National Aerospace Technology Exploitation Programme” led by the Aerospace Growth Partnership to address skills shortages and improve R&D collaboration in the aerospace sector. The £35m project aims to create nearly 5,000 jobs in the supply chain.