§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry how much was been spent on(a) regional venture capital funds, (b) Faraday Centres, (c) University Challenge Seed Funds, (d) SMART schemes and (e) Enterprise areas in each year since each was established. [146146]
§ Nigel GriffithsThe information is as follows:
(a)Regional Venture Capital Funds:
Regional Venture Capital Funds were launched in 2001. DTI spend has been as follows:
Year £million 2001–02 2.1 2002–03 9.1 Total 11.1 (b)Faraday Centres:
There is no Faraday Centres scheme, but the DTI supports Faraday Partnerships. Faraday Partnerships aim to bring new products and processes, based on the UK science base, to the market more effectively. DTI and the Research Councils support 23 of the 24 Faraday Partnerships: the other is supported by the Scottish Executive and DEFRA.
DTI spend on Faraday Partnerships to date has been:
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Year £ 2000–01 1,915,311 2001–02 3,351,631 2002–03 5,903,343 2003–041 2,904,500 Total 14.074,786 1First two quarters (c) University Challenge:
University Challenge has had the following amounts allocated to it:
Year £ million 1999–2000 10 2000–01 10 2001–02 20 2002–03 5 There are no current plans for any future separate funding for University Challenge. The sorts of activities which UC funded will in future be supported through the expanded Higher Education Innovation Fund.
(d) Smart (including SPUR):
DTI expenditure on Smart (including the SPUR scheme which was fully incorporated into Smart in 1997) has been as follows:
£ million Financial Year Expenditure 1988–89 3.0 1989–90 5.0 1990–91 9.0 1991–92 12.3 1992–93 18.0 1993–94 21.5 1994–95 21.9 1995–96 20.1 1996–97 20.5 1997–98 25.8 1998–99 24.9 1999–2000 26.5 2000–01 27.3 2001–02 23.7 2002–03 32.1 (e) Enterprise Areas:
Enterprise Areas are not a scheme but are a designation of the 1,997 most deprived wards in the UK. A range of policy measures are available to help people and businesses in Enterprise Areas. They provide a focus for local and regional organisations to tackle market failures and the barriers to enterprise that their communities face.
Government is encouraging key organisations; Local Authorities, RDAs; Business Link Operators and Local Strategic Partnerships to work with the business community to raise awareness of the help and support available and to co-ordinate their activities in order to target their efforts on Enterprise Areas.