Innovate UK has up to £15 million to invest in projects that support innovation in manufacturing and materials and lead to improvements in productivity, competitiveness and growth. Round 3 is now open. The deadline for registrations is 12 July 2017.
The aim of the Manufacturing and Materials Innovation Competition is to stimulate and widen innovation in UK manufacturing and materials. A range of projects that address technical or commercial challenges can be supported. These aim to increase business productivity, competitiveness and growth, particularly for SMEs. A project may focus on technical feasibility, industrial research or experimental development. The type of innovation project will depend on the nature of the challenge the applicant business is facing.According to Innovate UK, innovation is necessary in order to increase manufacturing productivity, material efficiency and competitiveness in the long term. In this manufacturing and materials competition, Innovate UK is particularly seeking applications that:
- take an innovative step in addressing the manufacturing readiness of growing sectors;
- develop flexible or efficient processes;
- seek greater customisation of products to fit diverging consumer needs;
- diversify product and service lines to serve new markets;
- develop novel services that open up new sources of revenue from manufacturing.
- 70% of eligible project costs for a small business.
- 60% if for a medium-sized businesses.
- 50% for a large business.
- 45% of eligible project costs for a small business.
- 35% for a medium-sized business.
- 25% for a large business.