£3million invested to inspire innovation

Up to £3million is to be invested by Innovate UK for feasibility studies to stimulate innovation across four technology areas that underpin future UK growth: advanced materials; biosciences; electronics, sensors and photonics; and ICT.

The aim of the competition is to ensure that small and micro businesses in the UK are well positioned to respond to market opportunities across a range of technologies and economic sectors. The projects are open to small and micro companies only, and they must be working in collaboration with one or more business or research partners. Small or micro businesses could receive up to 70% of their eligible project costs.

Projects are expected to last six to 15 months and to range in size from total costs of £50,000 to £150,000. This competition is now open for registration, and the deadline for applications is at noon on 9 September 2015.