UK business 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.
Your project needs to include the following:
Innovate UK are particularly encouraging applications that:
Innovate UK will not fund projects that do not address accountancy, insurance or legal services.
To be eligible for funding you must:
All projects must involve an SME.
Innovate UK are expecting to fund between £2 million and £4 million of grants in this strand. They reserve the right to manage budgets between the 2 strands to ensure a balanced programme.
Innovate UK have allocated up to £12 million across the 2 strands to fund innovation projects in this competition.
Projects with costs:
Total project costs should be up to £400,000 and projects should last between 1 and 2 years. Projects should plan to start 1 December 2018. All projects must complete by 31 March 2021.
For feasibility studies and 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: