Innovate UK has announced further deployment of the £750M of government funding announced by HM Government, via the Sustainable Innovation Fund. Two competitions to secure funding are currently running - but applicants must not delay.
The Sustainable Innovation Fund can deploy up to £200 million to help businesses across the UK drive forward cutting-edge new tech and recover from the impacts of coronavirus. Innovations can include AI systems managing city traffic flows to the latest reusable packaging materials. Research and development (R&D) intensive businesses and single and multi-party projects can apply for funding via a number of competitions to turn ingenious ideas into new technologies to support sustainability and build back better.
Details of the first two competitions have been announced. They have tightly drawn parameters both in terms of eligibility and project/product and service (respectively) purpose and adherence to sustainability and certain other socially responsible criteria. And interested parties must not delay their application as the competition closing dates are short.
Funding competition for post-Covid rebuild projects
As part of UK Research and Innovation, Innovate UK will invest up to £55 million to fund single and collaborative R&D projects to help all sectors of the UK rebuild after the effects of COVID-19. UK registered businesses can apply for a share of this funding for new projects focusing on sustainable economic recovery from COVID-19. The competition is now open and it closes on Wednesday 29 July 2020 at 11:00 am.
Small Business Research Initiative (SBRI) competition - products and services
This competition focuses on innovative products and services development with a clear emphasis on demonstrating the impact and potential of a clean-growth-led recovery and transition to net zero carbon emissions. Organisations can apply for a share of up to £10 million, including VAT, to help UK businesses and the public sector recover from the COVID-19 pandemic in a sustainable manner. The competition is now open and it closes on Wednesday 5 August 2020 at 11:00 am.
More details can be found on the Innovate UK website. Do contact us if you would like assistance with your application.
Our country is home to some of the world’s most cutting-edge businesses that turn ingenious ideas into new technologies every day. That’s why we’re backing our innovators and risk-takers with new investment so they can recover and grow out of the coronavirus pandemic.