Minister for Universities and Science, David Willetts, has recently announced an investment worth £7.2 million which might have the potential to vastly improve the internet as we know it.

The six-years-long project, 'Photonics HyperHighway' is set to bring a group of specialised scientists from Universities of Southampton and Essex alongside partners from the industry, among others BBC Research and Development, to develop and test new infrastructures which could make broadband internet up to a hundred times faster.

The Minister for Universities and Science David Willetts said:

"The internet is fundamental to our lives and we use it for a huge range of activities-from doing the weekly food shop to catching up with friends and family.

"The number of broadband subscribers has grown vastly in the past ten years, and we need to ensure the web infrastructure can continue to meet this demand."

Engineering and Physical Sciences Research Council (EPSRC) decided to provide the funding for the project, which is set to look at fibre technologies, develop and improve new platforms that will enable to increase internet bandwidth.

It has also been said that the findings of the project will benefit online retailers and banks - making money transfers and transactions super speedy.

Mr Willetts concluded saying:

"On top of this, the internet industry is worth an estimated £100 billion in the UK, so it is in our interest to make it even better for businesses and help boost economic growth. "The Photonics HyperHighway project has the potential to truly revolutionise the internet, making it much faster and more energy-efficient.

"The project is also a shining example of the UK's world-leading role in this area of research, and I look forward to the exciting breakthroughs it will bring."