Innovate UK has launched a £15 million ($22 million) funding competition and has invited companies involved in advanced materials to apply before the deadline of July 6 2016. 3D printing is not included in this first competition, but it will get its turn.
The funding is available for a broad range of applications and can go towards experimental development, industrial research and even feasibility studies. So even if your idea is in the embryonic stage, you can still apply.
If you can advance the world of material science and help productivity, competitiveness and growth, then Innovate UK wants to hear from you.
Who is Innovate UK?
Innovate UK is the operating name of the Technology Strategy Board and it is sponsored by the Department for Business, Innovation and Skills.
Technically it is not a government agency, but it is responsible for sharing out government money. It has been around since 2004 when the Department of Trade & Industry decided technology needed its own advisory board.
Innovate UK is determined to further the cause of technology in the UK and re-establish the country as a global force in manufacturing. It also aims to create jobs and high tech manufacturing could well replace the old-school engineering firms that are struggling to adapt to the modern world.
Can materials make Britain great again?
3D printing and material sciences are an ideal way for Britain to make an impact. It has some of the world’s leading universities, aerospace companies, F1 teams and more that are on the cutting edge of material science.
That creates a supply chain that the government is very keen to encourage and this competition is just one step further down the road.
It’s the first in a number of simplified competitions that will encourage companies working in four key sectors: emerging and enabling technologies, health and life sciences and infrastructure systems.
Suppliers can apply too
That means you don’t have to be involved in the production of next gen materials yourself. You can work in the logistics, component supply or even producing the raw elements required for the materials.
The advisory board is looking in particular for companies that are taking steps to bring new materials to market, as well as those that are developing new production processes.
Custom services are the way forward
Like many of us, the agency believes that customers want an increasingly tailored service and product, so Innovate UK is looking for companies that are focused on creating unique products for each and every buyer. Mass production is still important, but technology seems to be taking us down a path of personalised products and it is one the government advisors are keen to embrace.
All of the projects that apply for the funding must be led by a business and include at least one SME. If the costs are less than £100,000 ($145,000) then a single SME can apply for the grant. If a company wants more than £100,000 then it will have to team up with a larger company or a research institute.
How will the money be divided?
Innovate UK expects to fund a range of projects with financial awards from £50,000 ($73,000) to more than £2 million ($2.9 million). Businesses stand to receive up to 70% of the project costs for research and feasibility studies and 45% for experimental development.
This is a serious level of investment and should allow companies that simply couldn’t turn dreams into reality from taking the next step. It will create jobs, it will help drive innovation and it could help the UK’s tech industry take strides forward.
We are looking forward to seeing the winners.
