Welsh businesses with innovative ideas that will help the country in the wake of the coronavirus pandemic can now enter a competition to get all their project costs paid.
UK registered businesses can apply for a share of a £20m fund to respond to new and urgent needs in UK and global communities during and following the Covid-19 pandemic.
Innovate UK, as part of UK Research and Innovation, will invest up to £20m in innovation projects.
The aim of the competition is to support UK businesses to focus on emerging or increasing needs of society and industries during and following the Covid-19 pandemic. By fast-tracking innovation, the UK will be better placed to maintain employment levels and a competitive position in global markets, and make the UK more resilient to similar disruption in the future.
Applications need to 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 Covid-19 pandemic.
Proposals must focus on a clear need and the proposed innovation to address it.
Companies entering the competition must have the ability to deliver the project during the working restrictions of Covid-19 pandemic.
Businesses can claim 100% of their project costs up to the maximum of £50,000. These will be paid in advance of the project start date.
Innovate UK will monitor and review projects during their implementation with a view to providing follow-on funding and support for those with the most potential for impact.
The competition is already open and closes at midday 12pm UK time on Friday, 17 April. To learn more, CLICK HERE