Greater than £9m of UK Authorities funding might be awarded to 85 pioneering initiatives in Scotland to scale up and shield their improvements from the impression of the coronavirus pandemic, whereas serving to to energy up the UK’s inexperienced financial restoration.
Introduced at present (Wednesday 4 November) by the Enterprise Secretary, Alok Sharma, the £9.26m funding is a part of a wider £134 million UK Authorities package deal enabling 1,069 ground-breaking clear development initiatives develop new applied sciences, safe and create new jobs, drive productiveness and sort out local weather change.
Companies proper throughout the UK, from Glasgow to Devon, are set to profit from the funding.
These concepts might rework complete industries equivalent to manufacturing, hospitality and the automotive sector by serving to them reply to the distinctive challenges offered by the pandemic, whereas supporting threat takers to deliver their novel concepts to market.
The 85 initiatives in Scotland benefiting from the package deal embody:
Argyll-based Oceanium which is creating a complicated bio-refinery to assist flip seaweed into meals and compostable packaging merchandise. Farming seaweed on a big scale will assist create new jobs within the native space, and sort out plastic waste, supporting the UK’s goal to achieve web zero carbon emissions by 2050.
Glasgow-based start-up Nuvven which is creating a totally cell, digital and no-contact automotive rental service to profit prospects and homeowners. Utilizing revolutionary options equivalent to keyless entry, biometric buyer verification and digitised harm assessments, automotive rental corporations can provide decrease costs via decreasing their very own prices.
Edinburgh-based Good-Loop which helps small companies promote themselves on-line, whereas utilizing a few of that promoting spend to assist fund good causes around the globe. Good-Loop goal advertisements for native prospects to attach native companies and charities via good software program instruments. Every time customers watch, swipe, or click on on an advert, 50% of the income is donated to charity.
The Glasgow Wetland Carbon Seize Challenge (GWCCP) which can rework degraded, redundant or vacant land into thriving city wetlands. Whereas providing elevated biodiversity and extra inexperienced areas, such wetlands create the world’s best carbon sinks (every hectare capturing as much as 250 tonnes of carbon), and likewise rework contaminated soils and waters. And all achievable in time for Glasgow to show to the world its revolutionary strategy to a greener, fairer, extra sustainable restoration at COP26.
The Sustainable Innovation Fund, delivered via Innovate UK, is a cornerstone of the £1.25 billion funding package deal introduced by the Chancellor in April to assist bold, revolutionary companies survive and thrive in the course of the present pandemic.
Enterprise Secretary, Alok Sharma, mentioned:
The UK’s response to coronavirus has demonstrated the perfect of British ingenuity, and it’s this resourcefulness that can assist us navigate our manner via this pandemic.
At present’s funding will be certain that our innovators and risk-takers can proceed to scale up their concepts, serving to the UK to construct again higher and guarantee we meet our clear commitments on tackling local weather change.
UK Authorities Minister for Scotland, David Duguid, mentioned:
Innovation is an important a part of coping with local weather change and the UK Authorities is dedicated to investing in trailblazing Scottish companies as we construct again higher from the coronavirus pandemic.
Saving the environment would require making sustained adjustments and I urge others to hitch us on this yr of local weather motion forward of COP26 in Glasgow.
Innovate UK Government Chair, Dr Ian Campbell, mentioned:
But once more we see the thrilling vary of enterprise innovation happening throughout the UK, regardless of these tough instances.
Each initiative we’ve supported right here represents an necessary step ahead in sustainable financial improvement, but in addition one step nearer goals changing into actuality for bold hard-working firm homeowners and their workers.
The funding types a part of the federal government’s dedication to assist the UK’s entrepreneurs and start-ups to scale up their improvements, set out in its bold R&D Roadmap in July this yr.