The government has published details about incentives to spur companies to innovate and grow, including £75 million of funding targeted at small- and medium-sized businesses.

Iain Gray, the Technology Strategy Board’s chief executive, said: “A good deal of the innovation that happens in the UK comes from SMEs, and with innovation comes business growth.  This new package of measures will help to put these businesses at the forefront of the country’s economic recovery. This package enables the Technology Strategy Board to do even more to stimulate business-led innovation in its leading role as the UK’s innovation agency.”