UK businesses and research organisations can apply for a share of £12 million from the Industrial Strategy Challenge Fund. This is to develop AI and data enabled products and services within accountancy, insurance and legal services.
Programme: Innovate UK
Award: Share of up to £12 million
Opens: 18th Jun 2018
Closes: 15th Aug 2018
UK Research and Innovation will invest up to £12 million in innovation projects to support the application of artificial intelligence (AI) and data technologies. Projects should aim to transform the 3 target sectors:
These are sectors where there is an imminent threat from overseas competition.
The aim of this competition is to speed up the responsible adoption of AI and data technologies and solutions to transform the accountancy, insurance and legal services sectors.
Examples of sector-wide challenges include:
Your project needs to include the following:
Your project can focus on industrial research or experimental development.
Innovate UK will not fund projects that do not address:
Innovate UK are particularly encouraging applications that:
To be eligible for funding you must:
All projects must include an SME.
Total project costs should be between £2 million and £4 million, and projects should last up to 2.5 years. Projects should plan to start by 1 December 2018 and all projects must complete by 31 March 2021.
Innovate UK are expecting to fund between £8 million and £10 million of grants in this strand. Innovate UK reserve the right to manage budgets between the 2 strands to ensure a balanced programme.
For industrial research projects, you could get funding for your eligible project costs of:
For experimental development projects which are nearer to market, you could get funding for your eligible project costs of: