UK businesses can have a chance to save our oceans thanks to £6m available through simultaneous grants and private investment.

The amount, made available by a public-private partnership between Innovate UK and Sky Ocean Ventures, will allow UK firms to become leaders in providing solutions to reduce pollution in world’s oceans; a problem that is threatening to triple its magnitude by 2025, unless serious actions are taken (source: UN).

To enable the UK to lead the fight against waste, catalyse new ideas and quickly get products and services to market, Innovate UK will devolve 50% of the whole sum in grants, whereas the remaining 50% will be funded by Sky Ocean Venture through private investment. Part of this is from the Plastics Research and Innovation Fund – a £20 million programme led by UK Research and Innovation.

The competition to get access to this funding is now open and applicants are invited to submit their projects until midday on 13 March 2019 (first deadline). Micro and small businesses are eligible to apply, working alone, and they can get up to 100% of their project costs (expected between £100,000 and £200,000), equally split between Innovate UK and Sky Ocean Ventures.

Successful application should:

  • Be feasibility studies, industrial research or experimental development
  • Last no more than 12 months
  • Based in the UK and the work should be carried here
  • Identify where revenue generation and growth will occur in the UK as a result of the innovation being developed and exploited

Also, successful applications should consider:

  • developing new, sustainable polymer materials
  • developing sustainable plastic alternatives
  • alternative business models and supply chains that use less plastic
  • supporting circularity through improved resource use and design
  • new product designs
  • technology-enabled models that change consumer behaviours
  • new recycling processes, including collecting, sorting and processing of waste plastics
  • increasing the value of recycled polymers
  • scalable, technology-enabled remedial solutions

Source: Innovate UK

If you think your business is most suited to run for this funding opportunity, but you don’t know how, Please do get in touch for a FREE consultation.

 

Other posts you might like