News story

Key technologies: £3 million for business innovation

Businesses can apply for a share of £3 million for feasibility studies into technology projects across four key areas.

technology-inspired feasibility studies
Business can apply for a share of £3 million for feasibility studies across four key technology areas

Future UK economic growth will be driven by innovation in four key technology areas:

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

These four areas underpin the development of high-value products and services across many industrial sectors.

Innovate UK has up to £3m available for feasibility studies led by small or micro businesses into innovative projects in all four areas.

Advances will help to keep the UK at the forefront of technological innovation and generate significant economic growth.

Studies can be carried out into a range of new products and services, from lightweight materials and nanotechnologies to biological products, sensor systems, power electronics, use of data and improved computing experiences.

Competition information

  • the competition is open to businesses of any size
  • projects must be led by a small or micro company working with at least one other business or research partner
  • small or micro businesses could receive up to 70% of their eligible project costs, medium-sized businesses 60% and large businesses 50%
  • projects should range in size from total costs of £50,000 to £150,000 and last 6 to 15 months
  • the competition opens on 18 May 2015
  • the deadline for registration is noon on 2 September 2015
  • a briefing event will be held in London on 20 May 2015
Published 14 May 2015