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06 June 2016

Businesses offered new innovation support

Businesses are being invited to apply for funding to help get innovative research and development projects off the ground.</p>
Up to &pound;15 million is being made available by Innovate UK in a bid to help ensure cutting-edge technology-related projects see the light of day.</p>
Businesses can get between 25% and 100% of their projects&#39; costs funded, depending on the size of the firm and the type of scheme involved.</p>
The competition for funding is open to any business but projects should be focused on manufacturing and materials, emerging technologies, infrastructure systems, or health and life sciences. They could include anything from experimental development or technical feasibility studies through to market research.</p>
The application process opens on June 6 with businesses having until the end of August to submit their bids for funding.</p>
To be successful, businesses should demonstrate that their projects will lead to new products, services or processes being developed.</p>
Innovate UK expects the cost of the projects it will be asked to help fund to range between &pound;25,000 and &pound;1 million.</p>
The UK&#39;s innovation agency reports to the Department for Business, Innovation and Skills.</p>

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