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New £2m funding available for small business feasibility studies for new products

Innovate UK (the Government body supporting innovation in the UK through grants) is to invest up to £2m in feasibility studies to stimulate innovation across four enabling technology areas: advanced materials; biosciences; electronics, sensors and photonics; and information and communications.    

They are seeking proposals that will kick-start the delivery of genuinely new products and services, with substantial and scalable commercial potential.   

The aim of this competition is to ensure that small and micro businesses in the UK are equipped to respond to market opportunities across a range of economic sectors.   

Projects must be business-led and are open to small or micro companies only, working either singly or in collaboration with one other small or micro company. We expect to fund feasibility studies conducting pre-industrial research, in which a business partner will generally attract up to 75% public funding for their project costs.   

Innovate expect projects to last up to four months and total project costs must not exceed £33k.   

This competition opens on 10 November 2014 and the deadline for applications is at noon on 21 January 2015. A briefing day for potential applicants will be held in London on 25 November 2014.   

The type of AD project that could be viable is the development of new materials, electronics or sensors for AD plants or new products to improve the biology of the AD process.

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