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March 09 ,2017 | by Erin O’Neill

Innovate UK to invest £15 million in emerging technologies

Innovate UK

Innovate UK is to invest £15 million in technology projects that will help to inspire future products and services.

The innovation agency will be funding projects through a competition and is now inviting businesses to apply for a share of the fund.

Support

Innovate UK is looking to support projects for emerging technologies, including quantum technologies, 2D materials and synthetic biology, and enabling technologies such as digital, electronics and robotics.

The competition aims to help businesses in the UK to broaden their innovation activities and to provide support to SMEs and larger businesses to enable them to become more competitive.

Innovate UK will be awarding grants to businesses of any size from the UK, with participating businesses being required to submit proposals that show significant innovation. The agency is also looking for proposals that apply to more than one industry or sector, will help to boost growth and productivity, or provide export opportunities for SMEs.

Projects must be run by at least one small business and should run from six months to three years, with total project costs ranging in size from £35,000 to £2 million.

Applications

Applications for the competition are now open, with single businesses that apply being required to be leading just one project. Businesses that are a partner in two further projects are also being invited to participate. SMEs can apply on their own for up to £100,000 of funding.

Businesses have until midday on 3rd May 2017 to register and midday on 10th May 2017 to submit their application. 

Erin O’Neill

Erin O’Neill is an LSBF News Writer who reports on small business, careers, technology and education news.

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