Feeds

Cambridge tech boss rips gov over innovation cash

'We'll all be painted blue and dancing for tourists'

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

The head of one of the UK's top innovation centres has predicted a future for British citizens as impoverished peasants, painted blue and dancing for tourists because funding for high tech innovation has been pulled.

Walter Herriot, Director of St John's Innovation Centre in Cambridge he said, the money needed for this operation has been diverted to "support for first-time house buyers".

The Innovation Centre is today presenting another two dozen promising start-ups, based on ideas developed in the Cambridge "Cluster" associated with the University.

But funding for this incubation centre has been pulled, said Heriot. He accused the government of "mortgaging the future" of the UK.

He said: "The St John's Innovation Centre has been funded one way or another by government over the past 15 years, to assist early stage businesses ... last year it assisted 400 companies with advice and guidance. Companies that used its services were more than three times more likely to obtain finance, than those who do not.

"However, this programme has now been 'terminated' as the Regional Development Agency budget has been slashed by central government, with funding diverted to social projects - although announced as fresh money."

Herriot denounced the social projects as absurd: "My understanding it that the Innovation Advisory Service has £100,000 on the table. With that sort of money, it will be a Derisory Service, not Advisory. That's all that there is on the table." And the reason, he said, is that £100m is to be given to first-time house buyers.

"You can debate whether the package for first-time buyers will be effective or not - most people say probably not - but just think what we could do with a hundred million pounds!"

The government, said Herriot, "tends to regard the UK economy in isolation, and doesn't take account of our competitors - they don't consider what is going on in the Tiger economies of China, Singapore, India, and indeed, Saudi Arabia. And we don't have the money needed to pay bribes - like the $30m which Vistec was paid to move to New York as part of a $3bn nanoscale technology centre." ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
French 'terror law' declares WAR on the INTERNET itself, say digi-rights folks
Liberté, Égalité, Fraternité: Two out of three ain't bad
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.