Updated: Jul 3
In a previous blog post on the restarting of the SMART grant in August 2020, I mentioned that Innovate UK (IUK) revealed plans to launch a COVID-19 recovery fund. Today, IUK opened the first round of its Sustainable Innovation Fund, with an initial £55m up for grabs.
The purpose of the competition is to help all sectors of the UK rebuild, grow and capitalise on new opportunities after the effects of COVID-19. All grant applications must evidence COVID-19 related disruption to a particular industry and demonstrate how the specific innovation they are proposing can solve this.
What is both interesting and highly topical is that IUK expects all applications to address whether or not the rebuilding, recovery and growth proposed through each innovation is clean and sustainable. Preferably, the application should demonstrate the aim to achieve, maintain and measure some sort of positive impact on climate change and/or environmental sustainability through the innovation. At the very least, there should not be any negative impacts on the environment. If your innovation does not impact these areas in any way, you need to explain why this is.
A couple of things to note about this newly launched grant funding:
- The competition’s first round opened today and will close on 29th July 2020.
- Successful applicants will be notified on 28th August 2020.
Given the timeline, the window of opportunity is small but by no means impossible. If you have (or can think of) a unique innovation that can solve an industry disruption related to COVID-19, why not take a chance and start an application? If you think that you might benefit from expertise in developing your application, get in touch with Grant Starter – we can help you increase your chance of success. #grantfunding #growyourbusiness #sustainability #fundraising #startups