The UK government has announced a new funding package which is aimed at radically boosting the productivity of the manufacturing sector.

As part of its Manufacturing Made Smarter Challenge it’s making £30 million pounds available for companies who take part in an R&D to support the application of new technologies including AI and Virtual Reality on manufacturing.

Any company which wants to bid for the funding, which was launched on 22nd July, will need to demonstrate projects which will help transform both the productivity and the agility of UK industry, making it ready for a fast start and with the potential for real impact. All projects must be business-led, collaborative and involve at least one SME.

Business Secretary Greg Clark says “We want to support businesses of all sizes who want to develop new digital capabilities, and will support projects that help to ensure the UK remains at the forefront of technological developments.”

Siemens CEO Juergen Maier CBE hoc is Co-Chair of the Made Smarter Commission says “Through this challenge, there is a real opportunity to boost national productivity and stimulate engineering entrepreneurship which will create the new high-wage skilled jobs of the future.”