Finance Fred Heritage · 29 November 2017
Innovate UK launches 19m competition for manufacturing and infrastructure projects
Britain’s innovation agency, Innovate UK, will invest up to 19m in innovative projects in the manufacturing and infrastructure sectors, the government has announced. A new Innovate UK competition, opened on 28 November, will award funding to projects which improve productivity and efficiency in manufacturing and infrastructure. The types of innovative UK project the competition will look to fund include those to do with ‘smart? infrastructure, urban living solutions (including projects in areas like energy and waste, as well as policing and law), reducing emissions and improving transport. To qualify for funding, infrastructure projects must fit the competition’s specifications, improve business growth and productivity, or create export opportunities for at least one small UK business. The deadline for applications for the Innovate UK competition is 31 January 2018, and UK-based businesses of any size, including research and technological organisations, are eligible to apply. Qualifying projects will range from 25, 000 to 3m, and last between three months and three years. Successful applicants could get as much as 70 per cent of their eligible costs covered. Apply for infrastructure project funding ? Apply for manufacturing project funding Additional funding of up to 16m is also being made available for more Knowledge Transfer Partnerships (KTPs) which help businesses recruit qualified graduates for innovation projects.
ABOUT THE EXPERTFred Heritage
Fred Heritage was previously 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.