In an unusual move to boost the fortunes of the information technology in the north, an independent trust, Northern IT Research, is making grants and loans available to companies, individuals and academic institutions to pursue ideas that create industry and employment. Grants of up to UKP20,000 and loans up to UKP50,000 will be awarded to the successful applicants. A sum of around UKP100,000 will be available for grants over the year, and applications for both grants and loans will be considered as they come in. Northern IT Research was formed by the University of Newcastle, Newcastle Polytechnic, local authorities in Tyne & Wear and London-based Sema Group Plc, non-executive trustees of an unnamed group of information technology companies in the area. In January 1990, the companies staged a management buyout, the proceeds of which fund the trust. Councillor Mrs Pat Murray, head of the trust and of the Gateshead economic development committee, said that the trust has access to several hundred thousand pounds and that the interest is funding the grants and loans. The trust is administered and promoted by Sunderland-based Regional Technical Centre North Ltd, one of 12 centres established by the Departments of Trade & Industry and of Education & Science since 1986.
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