UK businesses

New Government £57.5m fund to boost innovative UK businesses

The business secretary Sajid Ravid has launched a new £57.5m funding to help UK businesses find new ways of tackling climate change and cancer.

The funding competition is jointly organised by Innovate UK, the Medical Research CouncilScottish Enterprise and the Engineering and Physical Sciences Research Council.

It aims to develop new sustainable energy and transport solutions, new healthcare advancements and drive forward commercial advances in quantum technology.

Businesses with the most innovative ideas will compete in two competitions to receive a total funding of £28 million:

  • Biomedical Catalyst 2016 competition – £10 million funding to develop innovative healthcare technologies that will help offer potential cures, prevent disease, manage chronic conditions or lead to earlier detection and diagnosis – Deadline to apply is before 12pm on 14th September 2016.


  •  – £19.5 million funding to support companies developing devices such as clocks, sensors, imaging, communications or computing – Opens on 18th July 2016 and must apply before 12pm on 5th October 2016.