Innovate UK is to invest up to £15 million in projects to stimulate innovation that creates UK business growth in infrastructure systems. Innovate UK want businesses to collaborate to develop new integrated solutions and new business models and they are looking to fund a portfolio of projects. These may include technical feasibility, industrial research or experimental development projects. It is expected that projects will range in size from total eligible costs of £25,000 to £5 million. Projects should last between 3 months and 3 years.
Projects must show significant innovation in one of the priority areas:
- ‘smart’ infrastructure
- energy systems
- connected transport
- urban living
Proposals must improve business growth, productivity and/or create export opportunities for at least one UK small and medium-sized enterprise (SME) involved in the project.
There are 2 competition options:
- £5 million for projects that last from 3 months to 1 year with costs from £25,000 to £100,000
- £10 million for projects lasting from 1 year to 3 years with costs between £100,000 and £5 million
Projects will need to be led by a business but they can collaborate with other organisations including businesses and universities.