Vince Cable has announced that UK companies can now bid for a share of £100 million from a government scheme to assist growing their domestic supply chains, helping to bring manufacturing back to the UK.
The funding will provide research and development support, skills training and investment capital and encourage major new suppliers to ‘reshore’ in the UK.
The Advanced Manufacturing Supply Chain Initiative (AMSCI) has previously developed five funding initiatives which has provided just short of half a billion pounds of public-private investment for over 40 projects in the UK.
Business Secretary Vince Cable said, “A strong manufacturing sector is vital to a balanced economic recovery, and I want to ensure that Britain’s supply chains are up to the task of supporting the sector in the long term.
For more information visit the gov.uk website