Oxford's pioneering work in encouraging innovative new businesses has been recognised by the Government with the appointment of a local business leader to a key grant-making body.

Paul Bradstock, director of The Oxford Trust, is one of seven experts advising on a £75m loan fund for people developing "incubator projects" all over Britain.

Incubators provide new companies with workspace, access to finance, plus business support in an instructive and supportive envir- onment.

The Oxford Trust, set up by Oxford Instruments founders Sir Martin and Lady Wood, is dedicated to promoting science and technology. Its offshoot Oxford Innovation has set up a network of innovation centres, which have led to the creation of several hundred new companies, including Oxford Glycosciences, Mondus and MathEngine.

Mr Bradstock's new, unpaid role means he will sit on the Business Incubation Fund Investment Panel, advising the Small Business Service on loans to developers of incubation projects. It will also advise on investing the £75m fund.

The panel will be chaired by economist Dr John Bridge, chairman of regional development agency One NorthEast.

Not-for-profit organisations looking to develop incubator projects are now being invited to apply for funds.

For more details, see the website www.sbs.gov.uk