The initiative – an Innovation Fund – is part of the Economic Growth and Diversification Strategy, which was lodged with the States yesterday by Economic Development Minister Alan Maclean.

Jersey will also target new businesses in India and China, grow its finance industry and encourage high-value companies to beat the economic downturn.

Senator Maclean said that the strategy had been produced after collaboration between several States departments, the public and other interested groups, such as the Institute of Directors.

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