The funding is available for a wide range of projects, from feasibility studies to experimental development that is closer to market.
The projects can come from any of the Innovate UK’s priority sectors, including emerging and enabling technologies, infrastructure systems, and manufacturing and materials, among others, but this is not mandatory, Innovate UK informed.
The total project costs can range between £25,000 and £1 million, and can last between 6 and 36 months, Innovate UK said.
The projects must be led by a business, either working alone or with partners, and they can attract up to 70% of their eligible costs, depending on their size and the type of project, UK’s innovation agency noted.
The competition was opened on June 12, and the deadline for registration is set for August 9, 2017.
All projects should demonstrate the potential to generate commercial impact and economic growth, and the priority will be given to proposals that are likely to lead to sustainable growth in productivity or develop products and services that will access new markets overseas, according to Innovate UK.