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.
13 March 2019
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.