IUK Launches Business-led Innovation in Response to Global Disruption Competition

IUK Launches Business-led Innovation in Response to Global Disruption Competition

UK registered businesses can apply for funding to respond to new and urgent needs in UK and global communities, during and following the COVID-19 pandemic.

Innovate UK (IUK) has opened a one-off competition to help UK businesses focus on emerging or increasing needs of society and industries, during and following the COVID-19 pandemic. By fast-tracking innovation, it is expected that the UK will be better placed to maintain employment levels, a competitive position in global markets and make the country more resilient to similar disruption.

Applications must demonstrate both realistic and significant benefits for society (including communities, families and individuals) or an industry that has been severely impacted and/or permanently disrupted by the coronavirus pandemic.

IUK has allocated up to £20 million to fund innovation projects in this competition. Applicants can claim 100% of their project costs, from £25,000 to £50,000. The funding will be paid in advance of the project start date.

This competition is open to single applicants only. To lead a project, the organisation must be a UK registered business of any size. The project must be carried out in the UK and applicants should intend to deliver the proposed outcomes for UK domestic or global benefit.

Applicants must have the capacity and capability to deliver the project successfully and on time during the working restrictions of COVID-19. They must demonstrate the ability to start the project no later than June 2020 and ensure the project has value for money.

The deadline for applications is 17 April 2020.

More information about this funding opportunity and the application process is available on the GRANTfinder funding information platform. GRANTfinder provides up-to-the minute content, insight and analysis on funding news. To find out more about how GRANTfinder can keep you in the know, and subscription fees, contact us today.