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Government sheds light on £42m digital investment plans

V3 - The UK government's Technology Strategy Board (TSB) is releasing £42m for investment in digital technologies around areas such as data handling and the Internet of Things.

The money is part of a larger £400m fund from the TSB (PDF), and is described as an "ambitious plan for developing and nurturing the very best of British entrepreneurial talent".

Five key areas will receive investment over the next 12 months, including £82m towards energy, £80m to healthcare, £72m to high-value manufacturing, £70m for transport and £42m on the digital economy. Other areas include emerging technologies and industries, and agriculture.

In the report the TSB explained it will spend this £42m in several ways, including launching 11 new competitions for digital start-ups to secure funding, and continued investments in the Open Data Institute and Tech City UK