By Max Clarke

Applications for the first round of the £50m Growth and Innovation Fund have been selected, Business Secretary Vince Cable today announced.

Responding to the UK workforce’s dire skills shortages bemoaned by business organisations, the Government in March launched the Fund to help nurture growth among UK industry by delivering ‘world class training’ in leading sectors.

“This Government wants business to lead the creation of a world class skills system,” said Cable.

“I'm pleased that employers have responded by coming forward with innovative ideas for the Growth and Innovation Fund. The fund will target public money, investing alongside business, to deliver workforce skills in new and creative ways.”

Meanwhile, the UK Commission for Employment and Skills is working on the detail of potential public investment in further innovative projects with sectors ranging from agriculture to energy and from hospitality to science-based industries. Further details of Growth and Innovation Fund investment in these projects will be confirmed after the summer.

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