£20M funding announced to fast-track business-led innovation

£20M funding announced to fast-track business-led innovation

UK registered businesses can apply for a share of up to £20 million to respond to new and urgent needs in UK and global communities during and following the Covid-19 pandemic.

 

Innovate UK, as part of UK Research and Innovation, will invest up to £20 million in innovation projects.

The aim of this competition is to support UK businesses to focus on emerging or increasing needs of society and industries during and following the Covid-19 pandemic. By fast-tracking innovation, the UK will be better placed to maintain employment levels, a competitive position in global markets and make the UK more resilient to similar disruption.

Applications must demonstrate both realistic and significant benefits for society (including communities, families and individuals) or an industry that has been severely impacted and/or permanently disrupted by the Covid-19 pandemic.

Proposals  must focus on a clear need and the proposed innovation to address it. Businesses must have the ability to deliver the project during the working restrictions of Covid-19 pandemic.

Businesses can claim 100% of their project costs up to the maximum of £50,000. These will be paid in advance of the project start date.

Innovate UK intends to monitor and review projects during implementation with a view to providing follow-on funding and support for those with the most potential for impact.

Funding type: Grant

Project size: Your project’s total eligible costs must be between £25,000 and £50,000.

Deadline to apply: Friday, 17 April 2020, 12:00pm

Scope: Innovate UK is interested in solutions, which tackle the new or emerging societal or industry needs in the wake of the Covid-19 pandemic, including but not exclusively:

  • community support services
  • couriers and delivery (rural and/or city based)
  • education and culture
  • entertainment (live entertainment, music, etc.)
  • financial services
  • food manufacture and processing
  • healthcare
  • hospitality
  • personal protection equipment
  • remote working
  • retail
  • social care
  • sport and recreation
  • transport
  • wellbeing

TO FIND OUT MORE AND APPLY, CLICK HERE