6.7 UKTI
T H E U K S T R A T E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
6.7 UKTI
Reasserting the UK ’ s worldwide business reputation is central to economic recovery . UKTI ’ s strategy is to market the economic strengths of the UK and the innovation , creativity and expertise of Britain in high value sectors . This attracts potential investors to the UK and helps our exporters sell themselves more effectively as international partners of choice .
The value of this strategy was confirmed in the 2009 Budget , with £ 10 million of the Strategic Investment Fund being channelled into UKTI , to be spent on events to promote UK sector expertise both in the UK and abroad . The funds are to help UK businesses better showcase their strengths to overseas customers and markets . All projects must meet the following criteria :
l High value and visibility to UK business ; l Early impact with strong legacy which the private sector can run with ; l Directly related to the New Industry , New Jobs strategy ;
l Leverage multiplying effects from partners to reach the widest possible audience .
Commitments in 2009 / 10 include :
l Up to £ 1 million ( with potential to leverage £ 0.3 million from the private sector ) for a major security sector event in February 2010 , building on the success model offered by the Farnborough International Air Show ;
l A further package of up to £ 2.8 million for events across the spectrum of NINJ sectors ( advanced engineering , creative industries , energy , low carbon , construction , ICT and financial services ) kicking off in September 2009 with London Fashion Week and the London Design Festival . Other events include a showcase for the advanced engineering sector in Brazil in October , Technology World in Coventry in November and a consumer electronics show in the USA in January 2010 ;
l As part of the suite of actions being coordinated by the Office for Life Sciences , an investment of up to £ 1 million over two years to promote UK life sciences and the NHS at flagship events in the UK and overseas . UKTI will hold a new high-level technology partnering event later in 2010 that will bring life sciences decision-makers to the UK ;
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