£8 million in grant funding is available for projects supporting the recovery and growth of the UK’s foundation industries. This funding is from the Industrial Strategy Challenge Fund (ISCF) and Innovate UK. The competition aims to support an innovation-led recovery from the Covid-19 crisis and protect the UK’s foundation industries innovation capability.
Innovate UK are looking to fund a portfolio of projects. However, all projects must:
- help the UK’s foundation industries remain globally competitive and become more environmentally sustainable
- indicate how the innovation helps meet the needs of business and/or industry as it emerges from Covid-19 pandemic and aids rapid recovery
- demonstrate that the business has the capability to deliver the project
Specific themes
Projects must focus on resource or energy efficiency in the foundation industries and can focus on one or more of the following areas:
- establish long-term viability of domestic supply chains
- new markets
- new business models
- new products and services
- new processes
Projects cannot focus on fuel switching or technologies for the capture of emissions, such as carbon capture and storage.
What is the ISCF?
The ISCF is part of the government’s Industrial Strategy, the long-term plan to raise productivity and earning power in the UK. They aim to increase funding in research and development by £4.7 billion over 4 years, strengthening UK science and business. Since the ISCF launched in 2016, it has supported 1820 organisations. Funding has been awarded to projects all over the country – could yours be next?
This competition closes on 4th November 2020. If you think that you may be eligible for funding, contact us today to arrange a free consultation. Alternatively, you can find more information on this competition here.
