Manufacturing companies: did you know you could get a £2m investment?

By SpiderGroup

3 June 2017

Manufacturing companies with a passion for increasing productivity and efficiency in the industry could be eligible for a grant of up to £2m.

The project from Innovate UK aims to promote innovation in the field, prompting businesses to develop forward-thinking strategies or processes to advance the manufacturing industry as a whole. This could be through research, experimental development or materials in an effort to demonstrate a broadened attitude towards manufacturing and materials in a way that benefits SMEs and UK businesses.

industrialWhat does this include?

With innovation at the forefront of the grant, the potential £2m investment includes a whole host of developing ideas and strategies.

This could mean;
• considering more efficient processes in the industry
• developing processes that enable faster and greater customisation of products to satisfy consumer demands
• developing materials for ease of manufacture
• addressing the manufacturing readiness of growing sectors
• developing materials for targeted performance specifications
• diversifying product and service lines to address new markets
• developing novel services and/or business models, that open new sources of revenue from manufacturing

industrialWho is the grant for?

The grant is for all businesses within the UK with an aim to carry out all project works in the UK too. The project funding will last 12 months and must cost less than £100,000 for solitary SMEs. If the cost is expected to be more or go on for a longer period, you may need to work with third parties to be allocated the funds.

So if you are an SME that thinks you could change the manufacturing industry for the good of UK business, why not apply? The deadline is 12th July 2017, more details on which can be found on the GOV website.

SpiderGroup are a technology partner dedicated to advancing business technology for manufacturing companies! So if you think it’s time you upgraded your business technology to automate your IT processes in the wake of the 4th Industrial Revolution then get in contact with us here.

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