Fast-track funding for UK’s marine sector

The fund is looking for UK businesses – from inside and outside the industry – to develop solutions covering many aspects of efficiency in existing and future ships, boats, submarines, and their associated equipment and systems.

The idea is to seek out innovative proposals that address the issues of improving current vessel performance and efficiency, but at the same time attract projects for future vessel design, coatings and propulsion systems.

The competition also aims to build collaboration across the maritime and marine industry, and develop UK-based supply chains and SMEs to underpin a national Strategy for Growth.

The Alliance points out there are a number of strengths in the UK market and each of the sectors offers growth opportunities: the leisure market for example has a readymade audience due to the rapid growth of middle classes in many developing economies where the UK has a reputation for quality.

The UK’s commercial marine side holds the key to global marine exports (estimated at £3tr), with high value opportunities in Brazil and Russia, while offshore renewables is a high technology area that holds out the hope of securing the UKs energy supply and reducing CO2 emissions.

Proposals must be collaborative and business-led, and it is hoped that micro and small businesses will be involved. As for the scale, the fund expects to invest between £500k and £3m per project, although projects outside this range will be considered.

The two-stage CR&D competition opens on 14 January 2013. The deadline for applicants to register for both types of project is noon on 20 February 2013 and the deadline for expressions of interest is at noon on 27 February 2013.

A briefing event for potential applicants will be held in London on 22 January 2013 and consortia-building events, to help applicants to find partners to work with, will be held before the competition opens in January.

More information from Innovate UK