Innovate UK is to invest up to £2 million in technical feasibility studies to encourage new entrants to the energy sector and stimulate the adoption of disruptive technologies.
The aim of the competition is to find innovative solutions to long-standing challenges faced by the energy sector. Innovate UK are therefore seeking proposals that are led by innovative SMEs, which can provide disruptive solutions to the challenges that are in the scope of the competition.
In order to encourage novel and radical solutions, projects must be led by an SME whose main business lies outside the energy sector. They can work alone or collaboratively with partners of any size from any sector.
Small businesses could receive up to 70% of their eligible project costs, medium-sized businesses up to 60% and large business partners up to 50%. We expect projects to last 6 to 12 months and to range in size from total costs of £25,000 to £100,000, although we may consider projects outside this range.
The competition opens on 28 March 2016 and the deadline for video submissions is at noon on 11 May 2016.
There will be a briefing event for potential applicants in London on 6 April 2016.
Brokering event will be held in Cumbria on 2 March 2016. This will be a great opportunity for you to hear more about the challenges, network with sector experts and meet potential partners.
This competition will fund projects led by SMEs whose main business lies outside the energy sector.
If you would like any more information about this competition please follow the link below to the Innovate UK website.