Fund title: Ocean Plastic Solutions Investment Accelerator

Focus of fund/fund aims:

Grants and equity for small and micro businesses to develop solutions that tackle the environmental crisis of plastic pollution in the world’s oceans.

Application deadline:

13 March 2019

Fund description:

This is an investment accelerator competition providing simultaneous grant funding and private investment from Sky Ocean Ventures for early-stage projects led by UK companies.

Innovate UK has allocated up to £1 million in grant funding alongside £1 million of investment from Sky Ocean Ventures to the programme.

The aim is to support new scientific or technological innovation to reduce plastic waste and deliver a more circular economy approach to plastic use (including for polymer-based textiles and elastomers).

Feasibility studies, industrial development and experimental research projects can be funded. Project examples include:

  • developing sustainable alternatives to plastics
  • alternative business models and supply chains that use less plastic
  • technologies to change consumer behaviour
  • new recycling processes

Note that compostable or biodegradable approaches and chemical recycling are in scope; energy generation from incineration of plastic waste is not in scope.

Small and micro businesses can apply. They must be UK based and must be working alone: partnership bids are not eligible. Total project costs should be between £100,000 and £200,000.

Further information:

https://apply-for-innovation-funding.service.gov.uk/competition/270/overview#summary