Britain’s business secretary Lord Mandelson has announced that the Government is committed to invest millions of pounds in national technology and innovation centres that will bridge the gap between academic research and its commercialization.

It was also informed that Technology Strategy Board will work with industry and research institutes to decide the structure and working of the technology and innovation centres.

Speaking on the topic, Mr. Mandelson said, “Centres can play a vital role in bridging the gap between research and the market, strengthening our national capabilities in innovation.”

Lord Mandelson has acknowledged recommendations put forward by the Cambridge-based technology entrepreneur Hermann Hauser, who believes that Britain has failed to gain enough economic benefit from its world-leading research.

Top priorities will be given to future internet technologies, software and technologies for renewable energy, fuel cells, satellite communications and regenerative medicine.