Government unveils £200 million package to help innovative businesses bounce back

The Sustainable Innovation Fund will help companies recovering from the impact of coronavirus (COVID-19) keep their cutting-edge projects and ideas alive.

  • Almost £200 million boost to help businesses across the UK drive forward cutting-edge new tech and  recover from the impacts of coronavirus
  • government 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

Innovative ideas and projects led by companies recovering from the impact of coronavirus will not be lost, thanks to a new £200 million fund launched today (Saturday 27 June).

This funding, delivered through Innovate UK, forms part of a wider £750 million package of grants and loans announced in April to support innovative firms. This sits alongside the new £500 million Future Fund, which provides match-funding to private investors, and has already received over 500 applications since its launch on 20 May.

Businesses can apply for support through the Sustainable Innovation Fund by visiting the Innovate UK website from Monday 29 June.

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Posted on: Friday 3rd July 2020