New Sustainable Innovation Fund to help innovative businesses

29th June 2020

A new £200m Sustainable Innovation Fund has been launched to help companies recovering from the impact of COVID-19 retain and progress their cutting-edge projects.

The fund will support innovations ranging from AI systems managing city traffic flows to the latest reusable packaging materials

Research and development (R&D) intensive businesses are urged to apply for funding to turn ingenious ideas into new technologies.

The 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 towns and cities.

The fund is also available to businesses and start-ups who are developing smart sustainability-focused projects to establish more ‘climate-positive’ behaviours, from apps encouraging people to cut down their food waste to sustainable biodegradable packaging.

The Sustainable Innovation Fund will help the UK’s economic recovery and develop new sustainable opportunities for businesses in any sector following the pandemic, while helping the UK to meet its target to cut carbon emissions to net zero by 2050.

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 Future Fund.

Businesses can apply for support through the Sustainable Innovation Fund by visiting the Innovate UK website 

Capitalise
Bishop Fleming has a team of fundraising specialists ready to advise clients through the different phases of the Coronavirus. As a partner of Capitalise, we have access to 100+ lenders to provide businesses with the opportunity to secure the right kind of funding. Our Capitalise team will support you through all stages of the funding process. Find out more about raising finance through Capitalise here.

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