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High-value manufacturing (HVM) ranges from R&D to recycling. Related products, processes and services accounted for 35% of all UK exports in 2010. That contributed £151 billion to the UK balance of payments.
We have identified five areas where innovation in HVM can generate further wealth across many sectors:
integration of new materials with manufacturing technologies
new business models
Our strategy is to:
double our direct investment in HVM innovation to around £50 million a year
concentrate investment on technologies and sectors where the UK can benefit in large global markets
make our investment choices using a set of 22 manufacturing competencies