News story

Innovation in key technologies: apply for business funding

Small businesses can apply for feasibility study funding in advanced materials; biosciences; electronics, sensors and photoncs; or ICT.

Small and micro businesses can apply for a share of up to £2 million to help them to carry out feasibility studies into technology projects in 4 key areas that underpin the future development of high-value products and services in the UK.

Innovate UK is seeking studies for innovative projects in the fields of:

  • advanced materials
  • biosciences
  • electronics, sensors and photonics
  • information and communication technology

The funding competition aims to ensure that small and micro companies are able to respond to market opportunities across a range of economic sectors.

Innovation in the 4 areas will help to keep the UK at the forefront of technological development.

Studies can be carried out into a wide range of new products and services, from materials for energy and healthcare to new biological products and bio-based solutions, sensor systems, power electronics, use of data and simpler computing experiences.

Competition information

  • the competition opens on 18 January 2016, and the deadline for registration is 9 March 2016
  • projects must be led by a small or micro business working either alone or with one other small or micro business
  • we expect total project costs to be no more than £33,000 and for projects to last up to 4 months
  • businesses could receive up to 70% of their project costs
  • a briefing event for potential applicants will take place in London on 26 January 2016, and there will be additional events in Edinburgh and Manchester