UK Government to invest Â£2m to spark innovation
Feasibility study funding targets small and micro businesses
Innovate UK, part of the UK government's Technology Strategy Board, is to invest up to Â£2m in feasibility studies to stimulate innovation across four technology areas: advanced materials; biosciences; electronics, sensors and photonics; and information and communications.
The competition is open to small or micro business with innovative ideas. Winning projects will attract up to 75 percent of the costs of carrying out the feasibility study (with total project costs being up to about Â£33,000).
Under the advanced materials category, potential proposals might include materials for energy generation including photovoltaics, solid-state and magnetic materials.
For electronics, sensors and photonics, Innovate UK is seeking applications for innovations in areas such as solid-state lighting, communications, photovoltaics as well as power electronics devices that efficiently convert and control electricity consumption.
The aim is kick-start the delivery of genuinely new products and services, with substantial and scalable commercial potential.