Innovate UK is launching a Tech Inspired Innovation Feasibility Studies Competition in January. Their plan is to invest up to £2 million in technical feasibility studies to stimulate innovation across four enabling technology areas: advanced materials; biosciences; electronics, sensors and photonics; and information and communication technologies (ICT).
The aim of the competition is to ensure that small and micro businesses in the UK are equipped to respond to market opportunities across a range of economic sectors. They are seeking proposals that will kick-start the delivery of genuinely new products and services, with substantial and scalable commercial potential. Projects must be led by a small or micro company, working either alone or in collaboration with one other small or micro company. Companies could receive up to 70% of their eligible project costs. Projects should last up to 4 months and not exceed total costs of £33,000.
The opening of this competition and related briefing event have been delayed so that Innovate UK can take account of the recent announcements in the Spending Review. Further information will be available in due course.
More information is available here