The aim of this competition is to facilitate collaboration between UK and Taiwanese businesses and encourage innovation and deployment of novel digital technologies for manufacturing.
Your project must identify collaborators and collaboration projects between UK and Taiwanese businesses.
Your collaborative R&D proposal must demonstrate:
- A clear game-changing or disruptive innovative idea leading to new products, processes, or services
- A strong and deliverable business plan that addresses and documents market potential and needs
- Sound, practical financial plans, and timelines
- Good value for money, which will always be a consideration in Innovate UK funding decisions
- A clear, evidence-based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- Clear, considerable potential to significantly benefit the UK economy or national productivity
- The benefit of participants from the countries working together and how this adds value
- A clear definition of where intellectual property (IP) can be used and shared between the participants and countries
- A clear route to market within two to three years of project completion
Innovate UK want to fund a portfolio of projects, across a variety of technologies, markets, technological maturities, and research categories.
Your project must focus on one or more of the following:
- Smart manufacturing
- Industrial Internet of Things (IoT)
- Artificial intelligence (AI)
- Virtual and augmented reality
- Robotics and automation
- Additive manufacturing
- Machine learning
- Big data
- Wider digital technologies, including block chain and enterprise architecture
- Industrial digital technology capability and capacity in both the UK and Taiwan
- Enabling continued growth in key Taiwanese manufacturing sectors, including electronics, energy, and smart machinery
- Key sectors including: pharmaceuticals, energy offshore wind, smart machinery, food and drink
Innovate UK have allocated up to £865,000 to fund innovation projects in this competition.
For feasibility studies and industrial research projects, you could get funding for your eligible project costs of:
- Up to 50% if you are an SME
- Up to 40% if you are a large business
Your project must have a minimum of 50% co-investment in place.
The UK-registered research organisations in your consortium can share up to 50% of the UK total eligible project costs. If your consortium contains more than one UK research organisation, this maximum will be shared between them.
Of that 50% you could get funding for your eligible project costs of up to:
- 80% of full economic costs (FEC) if you are a Je-s registered institution such as an academic
- 100% of your eligible project costs if you are an RTO, charity, non-profit organisation, public sector organisation or research organisation
Innovate UK will not fund projects that:
- Develop defence or military technologies
- Have a detrimental impact on the competitiveness of UK industrial digital technologies (IDT) or smart manufacturing capability and capacity
- Focus on semiconductors
- Are not in scope
- Do not meet Innovate UK’s eligibility criteria
- Do not submit all mandatory documentation
- Are dependent on export performance – for example, giving a subsidy to a baker on the condition that they export a certain quantity of bread to another country
- Are dependent on domestic inputs usage – for example, if they insisted that a baker use 50% UK flour in their product
Cresco Innovation works with companies to develop and implement innovation strategies. We help client companies identify opportunities to develop new products and services, and then create a package of support to ensure that the idea is turned into a commercial reality.
Our services include securing grants (as a team we have raised around £40million over three years), business planning, IP advice, access to finance and funders, project management and IP commercialisation support.
We regularly act as the interface with the funding bodies and help clients ensure that their projects are properly managed to ensure the best outcome for all.