DTI pledges £15m to nanotech sector
The Department of Trade and Industry will commit £15m to 25 nanotechnology projects. The funding will be structured such that the DTI will invest up to 50% of the value of the total investment. INEX, a Microsystems and nanotechnology facility for industry based in Newcastle, will receive a further £3m. The grants are the first to be allocated from the government's micro and nanotechnology fund, which has reserves of £90m. The government will continue to make grants over the next five years.
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