15/06/2016

£15m R&D Funding Competition Opened

Up to £15 million funding is available for innovative research and development projects in an open competition announced by Innovate UK.

The UK-wide competition is aimed at "fast-tracking the best business-led ideas or concepts", with proposals accepted from any industry of technology sector.

It is understood that this includes, but is not limited to, Innovate UK's four key sectors of manufacturing and materials, emerging and enabling technologies, health and life sciences, and infrastructure systems.

Eligibility criteria includes:

• innovation leading to new products, processes or services

• a clear and anticipated growth impact leading to a significant return on investment
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Businesses of any size can enter and they can work individually or collaboratively. Projects can focus on:

• market research

• technical feasibility

• industrial research

• experimental development

Projects are expected to range in size from total costs of £25,000 up to £1m and to last between six and 36 months. The level of support you could receive ranges between 25 - 100 per cent and depends on the type of project and size of your company.

Businesses interested in the competition must register before noon on 31 August. Once registered, businesses will be given access to application forms and guidance on how to apply. The deadline for applications is at noon on 07 September 2016.

This competition is the first of two annual open competitions under Innovate UK's new simplified process for funding competitions.

The second competition will open in December.

(MH/LM)

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