Finance · 17 November 2017

Innovate UK provides £18m funding boost for manufacturing projects

63 SME-led innovation projects are in line for funding
63 SME-led innovation projects are in line for funding

The UK manufacturing industry has received a £18.4m investment boost from Innovate UK, the country’s development bank for innovation.

Some 130 manufacturing organisations, representing 63 projects, will receive funding as part of the investment, via Innovate UK’s regular manufacturing sector competition. According to the organisation, its competition has recently completed its third round.

The 63 projects in line for funding are primarily led by small businesses and SMEs. Examples of projects include a prototype coating system, that will increase the manufacturing efficiency and sustainability of the food metal packaging industry, led by PPG Industries.

Another project, led by textiles firm Pireta, is optimising the production of durable, highly-conductive textiles, for use in wearable antennas in products including smartwatches and glasses.

These will be “snag free”, lightweight, and will support omni-directional communication, including radio waves widely used for radio broadcasting and in mobile devices that use radio.

Announcing the new £18.4m investment round at the recent The Manufacturer Live event, director of manufacturing and materials at Innovate UK, Simon Edmonds, said: “The quality and scope of these projects is outstanding.

“It highlights the appetite of UK manufacturing and materials companies across the country to innovate and grow.”

Learn more about applying for innovation funding 

What’s out there for tech startups seeking grant funding?

Commenting on the success of the projects, science minister Jo Johnson said: “[The projects] showcase how companies of all sizes can utilise the UK’s research and innovation expertise to improve their operations and competitiveness.

“Through our £4.7bn research and development uplift, the government is helping researchers and businesses to develop ground-breaking innovations.

“With competitions such as these, [the government] s ensuring that our world-leading researchers continue to receive the necessary recognition and support, within our Industrial Strategy.”

What will rising interest rates mean for small businesses?

Sign up to our newsletter to get the latest from Business Advice.


 
TAGS:

ABOUT THE EXPERT

Fred Heritage is deputy editor at Business Advice. He has a BA in politics and international relations from the University of Kent and an MA in international conflict from Kings College London. He previously worked as a reporter at Global Trade Review magazine.

Q&A

If you’ve found the article above useful, but have a more detailed and bespoke question, then please feel free to submit a query to our expert. We at Business Advice will get in contact with them on your behalf and arrange for a personalised response. These questions and answers will then be collated on the site for any other readers who have similar queries.

Ask a question

From the top