UK-registered businesses can apply for a share of up to £16million for bold and ambitious demonstrator projects in smart and sustainable plastic packaging. This funding is from the Industrial Strategy Challenge Fund.
Innovate UK have allocated up to £16million to fund innovation projects in this competition.
Innovate UK will award grants between £1million and £12million. Because they are looking to encourage large scale projects, there is no maximum limit for your total eligible project costs.
If your organisation’s work on the project is commercial or economic, your funding request must not exceed the limits below. These limits apply even if your organisation normally acts non-economically.
For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:
- Up to 45% if you are a micro or small organisation
- Up to 35% if you are a medium-sized organisation
- Up to 25% if you are a large organisation
For more information on company sizes, please refer to the company accounts guidance. This is a change from the EU definition unless you are applying under State aid.
Innovate UK may consider the purchase of capital equipment as an eligible project cost in large-scale commercial demonstration projects that go beyond the state of the art. This must lead to better or more efficient recycling or re-use activities compared to a conventional process.
For this EoI stage, if you include the purchase of relevant capital equipment, you must provide a rationale for your decision.
The research organisations undertaking non-economic activity as part of the project can share up to 30% of the total eligible project costs. If your consortium contains more than one research organisation undertaking non-economic activity, this maximum is shared between them.
Innovate UK will not give subsidies to projects that:
- Are detrimental to the environment compared with current dominant solutions
- Encourage or facilitate the export of plastic packaging whilst still classified as waste
- Will primarily produce any kind of fuel or direct energy generation from plastic waste
- Develop materials or packaging which do not have commercially available and viable UK recycling, or appropriate organic waste treatment infrastructure in place by 2025
- Relate to polyvinyl chloride (PVC) or polystyrene, including expanded polystyrene (EPS) and high impact polystyrene (HIPS)
- 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 we 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.