SME News March 2017

26 SME NEWS / March 2017 , Businesses can apply for a share of up to £15 million for innovation projects that will inspire the products and services of tomorrow. Technologies of the Future Innovate UK has up to £15 million to support business projects that stimulate new products and services through emerging and enabling technologies. These technologies could be the basis for billion- pound industries of the future. Emerging technologies Emerging technologies are newly developed sciences, where the best application and value is yet to be realised. Examples include quantum technologies, graphene and 2D materials, biofilms, energy harvesting and synthetic biology. Enabling technologies Enabling technologies can have wide applicability. Many industries could benefit from advances in areas such as machine learning, compound semiconductors and earth observation. Examples of enabling technologies include digital, space and satellite, electronics, sensors and photonics and robotics. Innovate UK expects to fund projects in four priority areas: • Emerging technologies; • Digital; • Enabling capabilities and; • Space applications. Proposals must demonstrate significant innovation; be applicable to more than one industry, sector or market; and improve growth, productivity or create export opportunities for at least one SME. Competition information • The competition is open and the deadline for registration is midday on 3 May 2017; • Innovate UK expects projects to last between six months and three years and to range in size from £35,000 to £2 million; • Projects must involve at least one SME and be led by a business or a research and technology organisation; • Businesses could attract up to 70% of their project costs and; • A briefing event for potential applicants will be held on 8 March 2017.