Deadline: 7-Jun-23
UK registered businesses can apply for a share of up to £2 million for this competition. This funding is for the purpose of developing innovative proposals with South Korea.
The aim of this competition is to fund business led, collaborative research and development (CR&D) projects focused on industrial research. This is for innovative proposals developed between the UK and South Korea.
Innovate UK, part of UK Research and Innovation, will work with the Korea Institute for Advancement of Technology (KIAT) and Korean Energy Technology Evaluation and Planning (KETEP) to invest up to £2 million in innovation projects.
Specific sectors
- Your project must focus on one or more of the following sectors:
- advanced manufacturing and materials
- artificial intelligence
- future mobility (including battery technologies)
- energy storage system
- hydrogen
Projects
- Your project 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 benefits 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 2 to 3 years of project completion
Funding Information
- UK applicants can apply for a maximum grant of up to £500,000 for each project.
Projects they will not fund
- They are not funding projects that:
- deliver any non-civilian applications
- are not in scope
- do not meet Innovate UK’s eligibility criteria
- do not submit all mandatory documentation
- have a grant request of more than £500,000 from Innovate UK
- do not have an eligible South Korean partner
- They cannot fund projects that are:
- dependent on export performance, for example giving a subsidy to a baker on the condition that it exports a certain quantity of bread to another country
- dependent on domestic inputs usage, for example giving a subsidy to a baker on the condition that it uses 50% UK flour in their product
Eligibility Criteria
- The consortium must include at least one business registered in South Korea that is a separate, non-linked entity. Your South Korean partner will not receive any of this UK competition funding. South Korean partners will be funded by either KIAT or KETEP.
- Lead organisation
- To lead a project your organisation must:
- be a UK registered business of any size
- be or involve at least one grant claiming UK registered SME
- partner with a South Korea registered business, which must be a separate non-linked entity to the UK project partners
- To lead a project your organisation must:
- Project team
- To collaborate with the lead, your organisation must be a UK registered:
- business of any size
- academic institution
- research and technology organisation (RTO)
- Each UK partner organisation must be invited into the Innovation Funding Service by the lead to collaborate on a project. Once accepted, partners will be asked to login or to create an account and enter their own project costs into the Innovation Funding Service. South Korean partners must not be invited into Innovate UK’s application on the Innovation Funding Service.
- If collaborating with other UK registered organisations, the lead and at least one other organisation must apply for funding when entering their costs into the application.
- To collaborate with the lead, your organisation must be a UK registered:
- Subcontractors
- Subcontractors are allowed in this competition, but they are limited to no more than 20% of the total eligible costs of the UK participation.
- Subcontractors can be from anywhere in the UK and you must select them through your usual procurement process.
- All subcontractor costs must be justified and appropriate to the total project costs.
- Number of applications
- A UK registered business can lead on one application but can be included as a collaborator in a further 2 applications.
- If a UK registered business is not leading any application, it can collaborate in up to 3 applications.
- A UK registered academic institution or RTO can collaborate on any number of applications.
For more information, visit Innovate UK.