UK businesses can now apply for a share of £8.5 million to fund feasibility studies in infrastructure systems or health and life sciences.
This is a pilot programme for Innovate UK. It provides simultaneous grant funding and venture capital investment for early stage projects led by UK companies.
Up to £3 million of grant funding and £1.25 million of private equity investment is available for projects related to infrastructure systems. This includes smart infrastructure, energy, urban living and connected transport.
An additional £3 million of grant funding and £1.25 million of private equity investment is also available for projects related to health and life sciences. This includes health, agrifood and biosciences.
Innovate UK expects projects to have total costs of up to £150,000. The programme will provide 100% of project costs. Projects should last between three and 12 months.
Suitable Projects for the health theme include:
- Proactive management of acute and chronic conditions
- Therapeutic discoveries and developments
- Medical technologies and devices, including digital health solutions (both hardware and software)
- Earlier and better detection and diagnosis of disease
- Innovative platform technologies for analysing, screening and optimising potential new medicines
- Original in-vitro, in-vivo and in-silico models that determine the mechanism of action, efficacy or safety of potential new medicines
- Stratification in primary care, the community and the home, including of direct-to-consumer products and medical devices
More information is available via the following links: