Innovate UK to Launch New GBP 15 Million Innovation Competition
- Authorities & Government
Innovate UK will launch a new innovation competition that will also allow entries from offshore wind on 16 January.
UK businesses can apply for a share of up to GBP 15 million to develop innovative solutions to challenges in infrastructure systems.
There are 4 priority areas:
- ‘smart’ infrastructure
- energy systems (including nuclear fission and offshore wind)
- connected transport
- urban living
The UK Government wants businesses to collaborate to develop new integrated solutions and new business models and will fund a portfolio of projects that may include technical feasibility, industrial research or experimental development projects. Projects should range in size from total eligible costs of GBP 25,000 to GBP 5 million and last between 3 months and 3 years.
In this competition, energy innovation that solely develops a single-generation technology, except for offshore wind or nuclear fission, will not be funded.
When it comes to offshore wind innovations Innovate UK will fund those which, when in use, result in substantial reductions in the cost of energy.
Proposals must improve business growth, productivity and/or create export opportunities for at least one UK small and medium-sized enterprise (SME) involved in the project.
There are 2 competition options:
- GBP 5 million for projects that last from 3 months to 1 year with costs from GBP 25,000 to GBP 100,000.
- GBP 10 million for projects lasting from 1 year to 3 years with costs between GBP 100,000 and GBP 5 million.
Companies can register before noon on 15 March and must apply by noon on 22 March.