Innovate UK Launches £19 Million March 2018 Open Sector Funding Competition

1 Mar 2018

Innovate UK (IUK) has launched a new competition to help businesses overcome barriers to the best cutting edge, game changing innovations and/or disruptive ideas or concepts becoming commercially successful. This includes those making a considerable economic impact and/or resulting in significant, sustainable business growth, in line with the government’s Industrial Strategy.

Projects should aim to lead to the commercialisation of new products, processes or services (or novel use of existing ones) believed to be significantly ahead of anything similar available in the field, and those that will have an economic impact. Priority will be given to those proposals most likely to lead to sustainable productivity gains or access to new overseas markets through export-led business growth.

The programme has a total budget of £19 million. Supported projects should have total costs of between £25,000 and £1 million depending on the type of research and development (R&D) to be undertaken. Project duration should be a minimum of six months, and a maximum of three years.

Successful applicants can attract grant funding towards their eligible innovation project costs. The funding is to be used towards research and development projects that tackle technical challenges.

IUK is looking to fund a portfolio of projects, across a variety of technologies, markets and technological maturities. These can be feasibility studies (which may include market research), industrial research projects or experimental development projects, depending on the challenge identified and proposed solution.

The competition is open to both small and medium-sized enterprises and large companies based in and carrying out a project in the UK. They can work individually or collaboratively. Proposals can come from any technology (including arts, design, media or creative industries) and any part of the economy. IUKparticularly welcomes proposals from innovation-based businesses with significant ambition and potential for growth or scale-up.

The competition closes at midday on Wednesday 9 May 2018.

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