Innovation Fund: First call for small-scale projects
The Innovation Fund, a new European funding stream, has launched its first call for small-scale, clean-tech projects. It has €100 million available and is also offering project development assistance for up to 20 rejected proposals. In line with the Innovation Fund’s wider objectives, the call aims to advance Europe’s transition towards climate neutrality.
Eligibility
The competition is open to projects with total capital costs between €2.5 and €7.5 million. Grants will cover 60% of a project’s total expenditure. The evaluators will consider the following award criteria: greenhouse gas emission avoidance, degree of innovation, project maturity, scalability, and cost-efficiency.
All projects should take place within an EU Member State, the only exceptions being Norway and Iceland. This has important implications for UK applicants; any project located in the UK will only be eligible for funding if the EU and UK reach an agreement.
Scope
Grants are available for innovative small-scale projects that are ready for market. For example, eligible projects may focus on making the first sale of new technology to pioneer customers. There are several eligible sectors within which your project can fall: renewables, energy-intensive, industries and substitute products, carbon capture and storage, energy storage. However, the call specifically encourages three key activities: products that substitute carbon-intensive ones, net carbon removal innovations, and direct air capture.
To be eligible for project development assistance, rejected proposals must meet the minimum requirements under the degree of innovation and greenhouse gas emissions criteria, and obtain at least half of the points available for project maturity. Additionally, the evaluators must believe project development assistance will help improve a project’s maturity.
For more information on the small-scale project call, visit the European Commission website. Alternatively, please contact us if you have any questions or would like to arrange a consultation. Subscribe to our free monthly newsletter to receive grant funding news direct to your inbox.
The Green Industrial Revolution: What it means for innovation
UK Prime Minister, Boris Johnson, has this week outlined his Ten Point Plan for a Green Industrial Revolution, marking the beginning of the UK’s path to net zero. The plan will mobilise £12 billion of government investment to create and support 250,000 jobs throughout the UK. Significantly, the Government has pledged that the UK’s industrial heartlands, including Wales, the Midlands, and the North East, will be at the foreground of this movement.
The plan covers a wide range of sectors, including clean energy, transport, nature, and innovative technologies. Innovation will be vital in these areas to ensure that the UK reaches net zero by 2050.
Therefore, the 10 points are as follows:
- Offshore wind: Producing enough offshore wind to power every home, quadrupling the amount of energy the UK currently produces to 40GW by 2030.
- Hydrogen: The Government will work with industry to generate 5GW of low carbon hydrogen production capacity by 2030.
- Nuclear: Advancing nuclear as a clean energy source.
- Electric vehicles: Accelerating the transition to electric vehicles, as well as improving national infrastructure to support the transition.
- Public transport, cycling and walking: Making further investments in zero-emission public transport.
- Jet zero and greener maritime: Supporting the aviation and maritime industries, which the Government regards as “difficult-to-decarbonise.”
- Homes and public buildings: Making homes, schools, and hospitals greener, warmer, and more energy efficient.
- Carbon capture: Developing technologies to capture and store carbon emissions away from the atmosphere.
- Nature: Protecting the natural environment, for example by planting 30,000 hectares of trees every year.
- Innovation and finance: Developing new technologies to ensure the UK reaches its energy ambitions.
Clean Growth and Innovation
Clean growth and infrastructure is a priority area of investment for Innovate UK, as set out in its 2019-20 Delivery Plan. The KTN, who is also playing a key role in this area, welcomed the Government's plans. However, they believe there are areas in which the plan does not go far enough. For example, they suggest more money will be required to decarbonise and retrofit all UK homes, as well as for the maritime sector to become greener.
This year alone, we have seen a multitude of innovation competitions linked to areas set out in the Prime Minister’s Ten Point Plan. Past competitions include sorting and segregating nuclear waste, zero-emission vehicle technologies, and more! Additionally, SMEs can apply now for a share of £5 million to help transform food production towards net zero.
Following the Green Industrial Revolution announcement, we expect to see more environmental competitions in the coming months. Stay up to date with grant funding opportunities on our blog or through our free monthly newsletter.
£5 million available for innovative food production projects
SMEs can apply for a share of £5 million in grant support to transform food production towards net zero. The grant funding is from the Industrial Strategy Challenge Fund. The project must also align with a Series A investment, which you can read more about here.
Scope
In short, you must develop precision technologies and data-driven solutions that make a significant step towards realising net zero food production systems by 2040. Additionally, you must demonstrate how your project meets the overall aims of the ISCF Transforming Food Production Challenge, which are to:
- help food production systems achieve net zero emissions by 2040
- help produce food in ways that are more efficient, resilient and sustainable
- speed up the development and use of integrated precision approaches to improve productivity in agricultural systems.
Funding is only available for experimental development projects. They must focus on one or more of the following themes:
- the development of precision solutions and systems that will make a significant step towards net zero emissions for food production
- improving productivity of the agricultural sector
- stimulating the establishment of novel high value production systems
- developing export opportunities
- Please also note that projects involving equine, amenity horticulture, wild-caught fisheries or non-food crops are ineligible.
Eligibility
Your project must have total eligible costs of between £1 million and £3 million. It should last 18 months, starting by 1st October 2021 and ending by 31st March 2023. To secure grant funding, you must also secure an investment of at least twice the amount of grant through one of the lead investors associated with this programme. However, you can submit your application before speaking to an investor.
This competition is open to single applicants only. To apply your organisation must:
- be a UK registered micro, small or medium-sized enterprise (SME)
- carry out its project work in the UK and intend to exploit the results from/in the UK
- be prepared to negotiate head of terms for an aligned series A investment.
The ISCF Transforming Food Production Challenge opens on 2nd November and closes on 13th January. To find out more, please visit Innovate UK. Alternatively, you can contact us if you have any further questions.
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