First innovation loans offered to businesses improving smart cities and transport
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13 businesses working on the challenges of population growth,
accelerating urbanisation and climate change offered Innovate UK’s
first innovation loans. The businesses are developing innovative
solutions for the UK’s urban infrastructure, energy and transport
challenges. Innovate UK has offered £8 million to 13
businesses...Request free trial
13 businesses working on the challenges of population growth, accelerating urbanisation and climate change offered Innovate UK’s first innovation loans.
The businesses are developing innovative solutions for
the UK’s urban infrastructure, energy and transport
challenges.
Innovate UK has offered £8 million to 13 businesses developing innovative solutions for the UK’s urban infrastructure, energy and transport challenges. The 13 businesses compete in a new global smart infrastructure market, estimated to be worth £1.2 trillion per year by 2025. The companies applied into a competition which looked for innovative businesses who could use the loan to scale up and commercialise new technologies. This is part of Innovate UK’s 2-year pilot loans programme, through which a total of £50 million is available. First successful companiesThe first successful companies include:
Unlocking opportunities for the UKInnovate UK’s Executive Chair, Dr Ian Campbell, said:
About innovation loansInnovate UK’s pilot programme of innovation loans was introduced to help scale some of the country’s most innovative companies. The programme will do this by helping tackle many of the key issues facing companies with innovative technologies and business models they want to take to market. If successful in the competitive application process, companies can borrow between £100,000 and £1 million. Commercialising important new technologiesDavid Petrie, Head of Corporate Finance at the Institute of Chartered Accountants in England and Wales (ICAEW) said:
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