lancaster University chiefs today welcomed Government backing for a major business initiative with China.
Chancellor George Osborne this week announced support for the university’s Lancaster China Catalyst programme during his Northern Powerhouse tour of China.
We welcome the recognition and support by the Chancellor for this programme
The delegation included representatives of many major Northern cities.
But Lancashire officials were not there as the 15 councils have not yet formulated a devolution strategy.
Lancaster University’s £5.1 m programme aims to help revitalise the UK’s position in the global exports markets, create 240 jobs, help 400 domestic businesses and boost the economy by £40m.
The programme has already taken 33 businesses to China and has so far seen the creation of 13 partnerships between UK and Chinese firms.
Dion Williams, director of Enterprise and Innovation at Lancaster University, said: “The Lancaster China Catalyst programme is forging research and development partnerships between UK and Chinese businesses. These partnerships are developing innovative products and services for global markets that will deliver economic growth and jobs here in the UK and also in China.
“We welcome the recognition and support by the Chancellor for this programme, which further cements Lancaster University’s strong reputation for working with businesses and supporting economic growth. We are also grateful to Lancashire County Council and the Lancashire Local Enterprise Partnership for their continued support of this programme for the benefit of businesses and jobs in Lancashire.”
Created by Lancaster University - and part-funded by the Higher Education Funding Council’s Catalyst Fund, the University and Lancashire County Council – the programme will help small and medium sized UK firms compete in increasingly competitive global markets by helping them to become established in the world’s fastest growing economy.
The initiative helps SMEs gain access to contacts and business networks within China’s Guangdong Province – China’s most populated province with more than 71m residents – through a partnership with the Guangdong Provincial Office of Science and Technology. It helps UK firms cut through red tape and provide guidance on doing business in the Far East.