Fund title: GovTech Fund
Focus of fund/fund aims:
To provide access into the public sector for tech businesses with exciting new digital ideas and solutions
The £20 million GovTech Fund will support delivery of the government’s Industrial Strategy by stimulating innovation in the economy, driving the development of the UK’s growing GovTech sector, and providing more opportunities for businesses to access public procurement opportunities.
The aim is to boost productivity by helping public bodies – such as the NHS or local councils – to identify challenges they face that could be solved by new digital technologies.
Tech firms bidding to the fund will have the flexibility to create truly innovative fixes: successful applicants will receive funding to cover their research and development costs. Once a finalised product is created, the public-sector body can then choose to buy it from the tech company.
The GovTech Fund will be made available from 2018-19 to 2020-21 and further information will be available in due course.