Innovate UK Covid-19 Fast-Track Innovation Funding Competition
YSYS2023 Partner Innovate UK has launched an urgent Covid-19 Innovation Funding Competition. Between £25,000-£50,000 grant funding, (part of a £20 million fund) is available to support business projects to develop innovative and ambitious solutions that tackle new or emerging societal and industry needs in the wake of the COVID-19 Pandemic.
The aim of this funding is to stabalise current employment levels and reduce staff redundancies as much as possible. By accelerating innovation, Innovate UK is able to ensure that the UK maintains its competitive advantage locally and on a global scale. Another factor also taken into consideration, is the need for this kind of funding to help both the government and businesses map out necessary defense strategies for future situations that may arise.
Applications must 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.
Proposed solutions must focus on a clear need and the proposed innovation to address it. The solutions must be able to be scaled up quickly, delivered during this lock-down period, started by June 2020 and last up to six months. There is a ten-day turnaround with a streamlined application process for 100% up-front grants of up to £50k.
Key Dates to take note of:
- Applications are open now and will close on 17th April.
- Successful projects will be notified on 27th April.
- Projects should start no later than 1st June 2020.
Innovate UK is particularly interested in, but not limited to the following industries: healthcare, financial services, transport, creative services, community support services, education healthcare, hospitality, retail, sports, wellbeing and more
