On Friday 3 April the government announced that Innovate UK, part of UK Research and Innovation, will invest up to £20 million in the funding of innovation projects that respond directly to the Covid-19 pandemic.
Innovate UK wants to fast-track innovation, so that the UK will be better placed to maintain employment levels, retain a competitive position in global markets and make the UK more resilient to disruption.
This competition allows UK organisations to apply for eligible costs between £25,000 and £50,000 within de minimis limits. It allows a claim of 100% of project costs up to the maximum to be paid in advance of the project start date. The deadline for applications is midday on 17 April and applicants will be notified of their funding on 1 May.
Each application for this funding must demonstrate:
- a clearly innovative and ambitious idea, which would realistically and significantly meet a societal need (including communities, families and individuals) that has emerged or increased due to the Covid-19 pandemic or the need of an industry that has been severely impacted and/or permanently disrupted
- that you have the capacity and capability to deliver the project successfully and on time during the working restrictions of Covid-19
- the ability to start your project no later than June 2020
- value for money
- be no longer than 6 months in duration
The award looks to fund a portfolio of projects across a variety of technologies, markets and applications. A full range of sectors are mentioned from the obvious Healthcare and PPE through to financial services, transportation, education and culture. No sector is ruled out and will be considered if there is a need brought on by Covid-19 disruption.
GovGrant CEO, Luke Hamm, welcomed the news.
We know that the UK businesses are actively seeking innovative ways to solve the problems emerging during the Covid-19 pandemic. Certainly the companies we work with are using their technical know-how, skills and experience to respond to a variety of new and urgent challenges. In time of financial uncertainty this award will make sure that the best ideas are delivered quickly and where they are needed most.
For more information on Covid-19 you can refer to our dedicated webpage, which we will continue to update in these fast-moving times