2 July 2020
Government unveils £200m package to help innovative businesses 'bounce back'
Innovative ideas and projects led by companies recovering from the impact of coronavirus could receive support from a new £200 million fund launched this week.
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 alive.
The funding could go towards developing new technologies focused on making homes and offices more energy efficient to cut bills, creating ground-breaking medical technologies to treat infections and diseases, or reducing the carbon footprint of public transport in towns and cities.
In a move to support people across the country to establish more ‘climate-positive’ behaviours, businesses and start-ups could also make use of the fund to develop smart sustainability-focused projects – from apps encouraging people to cut down their food waste, to sustainable biodegradable packaging.
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.”
More details on the funding are available from UK Research and Innovation (UKRI). Other funding opportunities currently available through UKRI include:
Developing the UK’s low carbon automotive capability
- UK registered businesses can apply for a share of up to £30 million for UK-developed late stage R&D, to support growth in advanced low carbon propulsion capability in the automotive sector. Find out more
EUREKA: healthy ageing
- UK registered businesses can apply for a share of up to £2 million to develop digital health technologies in partnership with organisations from EUREKA countries. Find out more
