This week the Government have announced they are investing £20 million for ambitious companies creating new technologies to aid building resilience following the Coronavirus outbreak.
The intention behind the investment is to drive the UK forward and promote innovation post COVID-19, with the aim to help boost the countries resilience to the long-term impact of the outbreak and similar situations in the future.
As a result, grants of up to £50,000 will be available to businesses operating in the technology and research sectors who are focussed on developing new ways of working. The areas the Government are looking to focus on are improving resilience in industries that provide to the population such as delivery services, food manufacturing, retail/transport and supporting those having to stay at home during periods of self-isolation.
Examples of innovations may include:
- Developing technologies that allow retailers to react and thrive when they experience increased consumer demand and ways to improve their national delivery.
- More personable services for families to be able to contact and check in with elderly or vulnerable relatives. This would provide a benefit to both the family and those vulnerable as it provides peace of mind.
- Create further tools to improve remote education, allowing teachers to teach with the correct resources adapted to remote learning.
So far the UK have seen many businesses adapt to the Coronavirus outbreak and to continue to support the population in anyway possible. This new investment will further develop the UK’s support plan in preparation for potential future events which may result in the same outcome as we have seen in the past few weeks.
Any development proposals will be reviewed as part of a competition launched by Innovate UK. All projects will begin by June 2020 and will aim to last up to 6 months allowing the products and services to be available to the public by the end of 2020.
If you believe that you could qualify for the grant please contact us to discuss your R&D project so we can fully assess the financial support and tax reliefs available.
enquiries@advaloremgroup.uk or 01908 219100.
