Finance Fred Heritage · 17 November 2017
Innovate UK provides 18m funding boost for manufacturing projects
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?
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.