Events in Physics
Innovate UK - Open programme funding competition round 1 鈥� cutting-edge or disruptive ideas for commercialisation
Innovate UK invites applications for its open sector competition – round 1. This aims to support the best cutting-edge or disruptive ideas or concepts with a view to commercialisation, that may come from any area of technology, science or engineering, including arts, design, media or creative industries, and be applied to any part of the economy. Proposals must demonstrate:
鈥lear game-changing or disruptive innovative idea leading to novel, new products, processes or services that are significantly ahead of others in the field;
鈥trong and deliverable business plan that addresses market potential and needs;
鈥eam, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time;
鈥wareness of all the main risks the project will face with realistic management, mitigation and impact minimisation plans for each;
鈥ound, practical financial plans and timelines that represent good value for money;
鈥lear, evidence based plan to deliver significant economic impact, return on investment and growth through commercialisation, as soon as possible following project completion.
Priority will be given to proposals that are likely to lead to sustainable gains in productivity or access to new overseas markets through export led business growth.
UK-based businesses of any size who will carry out their project alone or in collaboration with others in the UK may lead the project.
The total budget is 拢20 million. Projects that last between six and 18 months should be worth between 拢25,000 and 拢500,000. Projects that last between 19 and 36 months should cost between 拢25,000 and 拢2m. Small businesses are eligible to receive up to 70 per cent of eligible project costs, medium-sized businesses up to 60 per cent, and large businesses up to 50 per cent for feasibility studies. Small businesses are eligible to receive up to 45 per cent of eligible project costs, medium-sized businesses up to 35 per cent, and large businesses up to 25 per cent for experimental development projects which are nearer to market.