Over £100 million worth of contracts have been awarded to SMEs under the Small Business Research Initiative (SBRI).

The public sector program designed to increase SME participation in government projects has now seen 1,270 contracts awarded since the scheme’s establishment in 2009, passing a combined value of £100 million.

The government have moved to capitalise on the progress on the SBRI, raising a pledge to provide £40 million worth of contracts to small businesses over 2012-13, to £100 million in 2013-14 and £200 million through 2014-15.

The SBRI allows SMEs to enter the public sector procurement process with contracts awarded on the basis of innovation value.

Stephen Browning, Head of SBRI at the Technology Strategy Board, said: “presents a truly win-win scenario whereby government departments can find solutions to very real problems, whilst small businesses have an opportunity to present their ideas to organisations that may otherwise be unreachable."

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