A new £200m Sustainable Innovation Fund will help companies recovering from the impact of COVID-19 keep their cutting-edge projects and ideas alive. This funding, delivered through Innovate UK, forms part of a wider £750m package of grants and loans announced in April to support innovative firms.
The Sustainable Innovation Fund will help power the UK’s economic recovery and develop new sustainable opportunities for businesses in any sector. It will also help the UK to meet its ambitions to cut carbon emissions to net-zero by 2050.
The funding will support a variety of projects, including the development of ground-breaking medical technologies, as well as new technologies to make homes and offices more energy efficient. The fund is also available to smart sustainability-focused projects aimed at establishing more “climate-positive” behaviours.
Following the launch, the Business Secretary, Alok Sharma said:
“Today I am urging businesses in all parts of the UK to come forward and pitch their state-of-the-art ideas to us, so we can work together to power the UK’s economic recovery.”
Two exciting opportunities have now opened as part of the Sustainable Innovation Fund:
Sustainable Innovation Fund: round 1
- UK-registered businesses can apply for a share of up to £55m to fund new projects focusing on sustainable economic recovery from COVID-19.
- Competition closes: 29th July 2020
Sustainable Innovation Fund: SBRI phase 1
- Organisations can apply for a share of up to £10 million to help UK businesses and the public sector recover from COVID-19 in a sustainable manner.
- Competition closes: 5th August 2020
If you think you may be eligible for one of the above opportunities, you can apply now through Innovate UK. For our help in putting together a competitive proposal, please contact us today.
