The government has announced a Sustainable Innovation Fund which intends to help companies who are recovering from the impact of coronavirus (COVID-19) to keep their cutting-edge projects and ideas alive.
- Almost £200 million will be made available to help businesses across the UK drive forward cutting-edge new tech and recover from the impacts of coronavirus.
- Government will provide investment to support innovations ranging from AI systems, managing city traffic flows to the latest reusable packaging materials.
- Research and development (R&D) intensive businesses urged to apply for funding to turn ingenious ideas into new technologies.
The government’s Sustainable Innovation Fund will be open to companies across all parts of the UK who need urgent financial support to keep their cutting-edge projects and ideas alive.
Funding totalling almost £200 million could go towards developing new technologies focused on making homes and offices more energy efficient to cut bills, creating ground-breaking medical technologies to treat infections and diseases, or reducing the carbon footprint of public transport in our towns and cities.
In a move to support people across the country to establish more ‘climate-positive’ behaviours, businesses and start-ups could also make use of the fund to develop smart sustainability-focused projects – from apps encouraging people to cut down their food waste to sustainable biodegradable packaging.
The Sustainable Innovation Fund will help power the UK’s economic recovery and develop new sustainable opportunities for businesses in any sector following the coronavirus pandemic, while helping the UK meet its ambitions to cut carbon emissions to net zero by 2050.
To read the full government announcement click here.