Innovate UK: £3 million available for business innovation
20 May 2015 • Author(s): Victoria White
The UK Government has identified that future economic growth in the country will be driven by innovation in four key technology areas:
- advanced materials
- electronics, sensors and photonics
- information and communication technology
These four areas underpin the development of high-value products and services across many industrial sectors.
To support innovation in these key technology areas, Innovate UK has up to £3 million available for feasibility studies led by small or micro businesses into innovative projects. Advances will help to keep the UK at the forefront of technological innovation and generate significant economic growth.
Innovate UK competition open to businesses of any size
Studies can be carried out into a range of new products and services, from lightweight materials and nanotechnologies to biological products, sensor systems, power electronics, use of data and improved computing experiences.
- the competition is open to businesses of any size
- projects must be led by a small or micro company working with at least one other business or research partner
- small or micro businesses could receive up to 70% of their eligible project costs, medium-sized businesses 60% and large businesses 50%
- projects should range in size from total costs of £50,000 to £150,000 and last 6 to 15 months
- the competition opens on 18 May 2015
- the deadline for registration is noon on 2 September 2015
- a briefing event will be held in London on 20 May 2015
For more information about the competition or to enter, please visit interact.innovateuk.org.
Innovate UK, formerly known as the Technology Strategy Board, fund, support and connect innovative businesses to accelerate sustainable economic growth.To find out more about Innovate UK, please www.gov.uk/innovate-uk.
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