The Government is to invest up to £2 million to stimulate innovation by small and micro businesses in a broad range of manufacturing competences.
The UK’s innovation agency, the Technology Strategy Board (www.innovateuk.org) is to award grant funding to support feasibility studies and is seeking applications for projects across the whole manufacturing lifecycle – from design and engineering through to process development, manufacture, service delivery and re-manufacture/re-use, including innovation in supply/distribution chains, risk management and business models.
The competition is open to small and micro companies only, either working alone or in collaboration with one partner. The feasibility studies can last up to four months and are eligible for grants of up to £25,000. Total costs must not exceed £33,000.
The competition opens on 24 September 2012 and companies must register their interest by 31 October 2012, and then submit their application by 7 November 2012.