Innovate UK New Investment for businesses to tackle ocean plastics crisis
Up to £6 million in simultaneous grant and private investment is on offer to UK businesses with innovative solutions to reduce pollution in the world's oceans.
Innovate UK and Sky Ocean Ventures https://www.skyoceanventures.com/ have joined forces to offer UK businesses funding to tackle the plastics problem by developing areas such as new recycling processing or alternatives to plastic. The first part of the competition has £2 million available.
Plastic pollution is creating an environmental crisis in the oceans. According to the United Nations, more than 8 million tonnes of plastic enter the water every year, killing up to 1 million sea birds and 100,000 mammals, turtles and fish. Unless significant action is taken, the amount of plastic in the seas will triple by 2025.
Innovate UK will provide up to £3 million in grants to enable the UK to lead the fight against waste, catalyse new ideas and quickly get products and services to market. Part of this is from the Plastics Research and Innovation Fund - a £20 million programme led by UK Research and Innovation https://www.ukri.org/
Sky Ocean Ventures will offer the same amount in private investment. Set up by Sky, the firm looks to support young companies and create meaningful change by highlighting environmental disaster caused by plastic pollution in the oceans.
Competition information
* the first part of the competition is open, and the deadline for applications is at midday on 13 March 2019
* micro and small businesses are eligible to apply, working alone
* applicants must be based in the UK and intend to carry out the work here
* we expect projects to have total costs of between £100,000 and £200,000 and to last up to 12 months
* funding is for feasibility studies, industrial research or experimental development
* successful applicants could get up to 100% of their project costs. This will be split between Innovate UK and Sky Ocean Ventures
For more information and to enter the competition please visit:
https://www.gov.uk/government/news/new-investment-for-businesses-to-tackle-ocean-plastics-crisis
or to go direct to the competition details at:
https://apply-for-innovation-funding.service.gov.uk/competition/270/overview
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