Businesses led consortia from across the UK can bid for funds of up to £1.5million per project to transform supply chains to help build a more efficient, flexible and resilient manufacturing sector. The new cash stream is being made available from the Government’s Industrial Strategy Challenge Fund (ISCF), and aims to help companies rethink and restructure the way they design and operate their supply chains to super-charge UK manufacturing so it comes out top on an ever more competitive global stage.
The COVID crisis has highlighted the fragility of supply chains, and the importance of supply chain visibility and resilience both now and in the future. With the right technology in place creative solutions such as Artificial Intelligence (AI) can boost supply chain power by predicting shortages, demand spikes and direct supplies into the chain.
Businesses applying for the new funding can look to improve results from existing supply chains, redesign or re-engineer supply chains or design completely new supply chain concepts for new products or processes. Companies of any size may apply and the consortia must include at least one SME. Projects ranging in size from as little as £250,000 to £3million. SME businesses which are Technology developers or Manufacturing companies can benefit from funding up to 70% of their project costs. The projects can take up to two years to complete.
Juergen Maier, Co-Chair Made Smarter said: “Post Covid, more use of digital technologies can have a turbo-charge effect on kick-starting the economy as a whole. Creating resilient and efficient supply chains is a key component of that, where better data analytics, modelling and connectivity can help drill down into supply chains and improve efficiencies very significantly.
“Looking to improve supply chain operations will give business a much-needed boost as they work flat out to replenish their order books as we slowly come out of the current crisis. This new funding pot will enable the best and most forward-thinking minds to come together to create world class supply chain technologies which will end up being the new must-have for companies in the global market.”
Both innovations competitions open today, Monday 6th July and the deadline for applications is midday on 7th October 2020. Companies of any size may apply and the consortia must include at least one SME.
Competition for feasibility studies
An online briefing event https://eur.cvent.me/WLKkk takes place on 14th July 2020, and there are a series of collaboration-building events https://eur.cvent.me/MQLWo throughout July
Find out more and apply: https://apply-for-innovation-funding.service.gov.u...
Competition for industrial research
An online briefing event https://eur.cvent.me/WLKkk takes place on 14 July 2020, and there are a series of collaboration-building events https://eur.cvent.me/MQLWo throughout July
Find out more and apply: https://apply-for-innovation-funding.service.gov.u...
