Technology-based businesses throughout East Anglia will be given the chance to learn more from one another thanks to a new initiative called Collaborate2Innovate.

Technology-based businesses throughout East Anglia will be given the chance to learn more from one another thanks to a new initiative called Collaborate2Innovate.

The scheme, being launched at Bury St Edmunds next week, is funded by the European Union via the East of England Development Agency, together with matched public/private partner funding.

Organisers say it will provide opportunities for organisations with a technology bias to meet, learn and benefit from each other's experience - generating opportunities for business development and company growth.

Recent research by Bristol University shows that personal contact and networking is responsible for creating 50pc of new business, with recommendation and word-of-mouth introduction also playing a key role.

The Collaborate2Innovate launch is on Wednesday at West Suffolk College, Bury, from 4pm to 9.30pm and participants can attend at any time.

The free event will be divided into a series of zones. In the Innovation Zone visitors will be able to meet some of the most exciting technology-focused organisations in East Anglia. Many exhibitors will be providing live demonstrations of their products including the latest in 3G phones, PDAs and laptops.

A series of short seminars will take place in the Knowledge Zone throughout the event with speakers from companies including ARM, Microwave Photonics and i2.

The Collaboration Zone will give people the chance to share their experiences of the event and network with like-minded professionals.

Collaborate2Innovate has also established a series of special interest groups to concentrate on key issues and sectors within the technology arena. These include IT managers, wi-fi and broadband, people managers and networks.

Aleks Szymanski, from management consulting firm Itineris, who is managing the development of Collaborate2Innovate, said: "The technology sector is very specialist and by getting involved in Collaborate2Innovate, companies can generate new opportunities, stimulate the creative process and build new alliances which can really add value."

To register, or for details, visit www.collaborate2innovate.com.