UK businesses can apply for a share of up to £2 million to develop solutions that tackle the environmental crisis of plastic pollution in the world’s oceans.
Programme: Innovate UK
Award: Share of up to £2 million
Opens: 2nd Jan 2019
Closes: 13th Mar 2019
This is an investment accelerator competition providing simultaneous grant funding and private investment from Sky Ocean Ventures for early stage projects led by UK companies.
The aim of this competition is to support new scientific or technological innovation to reduce plastics waste and deliver a more circular economy approach to plastic use (including for polymer-based textiles and elastomers). For example, this could include:
Also in scope are:
Your project can focus on one or more of the following, non-exhaustively:
To be eligible for funding you must:
Research and technology organisations and universities cannot apply, but spin-out UK companies can apply.
Your project’s total costs should be between £100,000 and £200,000.
Projects must start by 1 September 2019 and last up to 12 months.
For projects defined as feasibility studies or industrial research projects, Innovate UK will fund 50% of project costs and Sky Ocean Ventures will provide the remaining 50%.
This funding will support the pre-commercial development and de-risking of new technologies and business models.
For experimental development projects which are closer to market, Innovate UK will fund 45% of project costs. Sky Ocean Ventures will cover the remaining eligible project costs.
Experimental development funding can support commercially usable prototypes for demonstration and validation trials, including experimental production processes and supply chain development.
Innovate UK will not fund projects that cover energy generation from incineration of plastic waste.
If you are successful in being offered grant funding by Innovate UK, you must also secure investment heads of terms with Sky Ocean Ventures before a grant can be awarded. Before submitting your application therefore, it is hightly recommended that you contact Sky Ocean Ventures to discuss your project and/or business at email@example.com