Innovate UK has launched a fund to encourage small British firms to work with international businesses and to help them enter global markets.
UK businesses looking to create international business networks can apply for funding to enable commercial research and innovation partnerships. It will also help businesses explore ideas for future collaboration.
Innovate UK is funding this competition. It is open to small and medium enterprises (SMEs). The funding will enable SMEs to carry out short feasibility studies and spend time abroad. The competition will encourage UK firms to create long term partnerships with overseas companies. It will also help them gain a better understanding of collaborative opportunities.
- The competition opens on 5 August 2016
- The deadline for registration is noon on 21 September 2016
- The deadline for application is noon on 28 September 2016
- A UK SME must lead the project
- A UK SME can carry out the project on their own or work with other UK partners
- Only UK SMEs will receive funding
- Innovate UK will fund projects with eligible costs of up to £30,000
- Businesses may receive funding of up to 70% of their total project costs
- Projects should last up to 4 months