UK and USA: innovation in global composites markets
Fund Name: innovation in global composites markets
Project Length: Up to 18 months
Project Value: Share of up to £1.7m
The competition will focus on collaborative research and development (CR&D) projects, which should result in a new product, industrial process or service. Projects must be innovative, involve a technological risk and target large global markets.
Innovate UK will welcome proposals from UK organisations who can collaborate with existing US partners in the field of composites manufacturing.
Your project must show:
- a clear game-changing and/or disruptive innovative idea leading to new products, processes or services
- a strong and deliverable business plan that addresses market potential and needs
- a team, business arrangement or working structure with the necessary skills and experience to run the project successfully and complete on time
- awareness of the main risks the project will face (including contractor or equipment failure) with realistic management, mitigation and impact minimisation plans for each
- sound, practical financial plans and timelines
- good value for money
- a clear, evidence-based plan to deliver economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- considerable potential to positively impact both the UK and the US economy
- the benefit to participants from the 2 countries working together
Innovate UK is looking to fund a portfolio of projects, across a variety of technologies, markets, technological maturities and research categories to build a portfolio of projects that:
- are high quality
- target opportunities that benefit both the UK and the USA economy and/or productivity in a positive way
- demonstrate sufficient innovation, the potential return on investment and degree of technical risk
- demonstrate value for money, including the potential impact of the project relative to its cost, and the cost of other projects under consideration
To lead a project UK applicants must be one of the following, and involve the other as a collaborator:
- a UK business of any size
- a UK research and technology organisation (RTO) or UK university
- You must collaborate with a US project team (see specific themes section).
UK-led projects can have total eligible project costs of up to £1 million with a maximum grant of £300,000 to be shared between the UK applicants.
Projects must start by January 2020 and can last up to 18 months.
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