Farnborough Air Show opens for business. A number of BIS announcements are being made throughout the day. Follow our live blog below to catch up on events as they occur.
10 Jul 2012
The latest £120 million investment from government and industry in aerospace research and technology was announced by Business Secretary Vince Cable at the Farnborough International Air Show today. The new funding, part of a total £200 million investment in aerospace since 2011, was announced alongside publication of _Reach for the Skies: a strategic vision for UK aerospace. _
The funding, for the virtual UK Centre for Aerodynamics, will support:
Capability building work to develop and establish the UK’s intellectual leadership in aerodynamics;
£28.2 million of Government funding for six innovative new aerodynamics projects;
A new Technology Strategy Board competition for collaborative research projects - £20 million in Government funding will be matched by up to £20 million from business.
Universities and Science Minister David Willetts also used his speech at Farnborough to position the UK as a launch pad for future space travel. He also highlighted the powerful economic growth potential that the £9.1 billion UK space industry has to offer.