The government’s Sustainable Innovation Fund will be open to companies across all parts of the UK who need urgent financial support to keep their cutting-edge projects and ideas active.
Funding could go towards developing new technologies focused on making industry more energy efficient to cut bills or reducing the carbon footprint of public transport in our towns and cities.
The Sustainable Innovation Fund will help power the UK’s economic recovery and develop new sustainable opportunities for businesses in any sector following the coronavirus pandemic, while helping the UK meet its ambitions to cut carbon emissions to net zero by 2050.
Businesses can apply for support through the Sustainable Innovation Fund by visiting the Innovate UK website.
Business secretary Alok Sharma said: “Our country is home to some of the world’s most cutting-edge businesses that turn ingenious ideas into new technologies every day. That’s why we’re backing our innovators and risk-takers with new investment so they can recover and grow out of the coronavirus pandemic.
“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.”
Dr Ian Campbell, Executive Chair, Innovate UK said: “Many businesses have successfully, and innovatively, responded to the challenges posed by the coronavirus. Organisations will recover from the pandemic, and as the situation stabilises, we will help businesses build an innovative economy that is viable and resilient. Today we issue the call for more innovators to put forward proposals to help the UK build a sustainable and productive future.”
This funding, delivered through Innovate UK, forms part of a wider £750 million package of grants and loans announced in April to support innovative firms. This sits alongside the new £500 million Future Fund, which provides match-funding to private investors, and has already received over 500 applications since its launch on 20th May.
Innovate UK www.gov.uk/innovateuk
