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Game-changing ideas for products or services: apply for funding
2nd March 2018 – Have you got a game-changing idea for a product or service?
Businesses can apply for a share of up to £15 million to develop novel products and services, or a further £10 million to work on projects with graduates.
Innovate UK has up to £15 million to invest in great ideas for new innovations in a range of technology and business areas. Projects must work on disruptive ideas that could lead to new products, processes or services that are significantly ahead of others in the field. They can range from short feasibility studies to longer industrial research or experimental development projects. There must be a potential for commercialisation or economic impact.
- the competition opens on 1 March 2018 and the deadline for applications is 9 May 2018
- projects must be led by a business working alone or in collaboration with other organisations or researchers
- we expect projects to range in size between £25,000 and £1 million and to last between 6 months and 3 years
- businesses could attract up to 70% of their total project costs
Knowledge Transfer Partnerships
Businesses also have the opportunity to apply for a share of a further £10 million for Knowledge Transfer Partnerships (KTPs). KTPs allow businesses to benefit from a partnership with an academic institution and a recent graduate with relevant expertise to work on a specific innovation project. The deadline to apply is the same, but the application process is different. You should speak to your local knowledge adviser, who will help you to apply.
For further information please go to https://www.gov.uk/government/news/game-changing-ideas-for-products-and-services-apply-for-funding