Technology entrepreneur Hermann Hauser has called for a long term expansion of the Catapult network he helped to establish four years ago.
In a follow-up review to his original 2010 report, Hauser called on the government to create one or two new elite technology and innovation centres each year, which would lead to 20 by 2020 and 30 by 2030, and a doubling of funding by the end of the decade to £1billion a year.
In addition to this sustained investment, he also called for more effective engagement with small businesses and a more coherent model for working with universities.
There are currently seven Catapult centres across the country with another two due to open in 2015. Each one is focused on a specific area of technology with global potential for British businesses.
"I've been genuinely surprised at the degree of progress made and impressed by the quality of the people and facilities in the emerging network," Hauser said. "The UK is playing catch up with the best innovation systems in the world in translational infrastructure, so I was very encouraged to see how rapidly we are closing the gap."
Business Secretary Vince Cable said the government would now carefully consider the findings of Hauser's review to ensure the increased investment was financially viable.
He commented: "Innovation without commercialisation is like a car without an engine.While the Catapult Network has been a success story for British innovation, taking our world-leading capabilities in areas like high value manufacturing and satellite applications to new and promising levels, I want to make sure we are getting enough bang for our buck."
The full report can be downloaded from the link below.