Ocean plastic solutions investment accelerator: reducing plastic pollution
“Ocean plastic solutions investment accelerator: reducing plastic pollution” is open for UK businesses for a share of up to £2 million. The competition invites UK companies to develop solutions to tackle the environmental crisis of plastic pollution in the world’s oceans.
This investment accelerator competition provides £1 million grant funding from Innovate UK and £1 million private investment from Sky Ocean Ventures for early stage projects. The competition is open to single UK small and micro companies who are looking for grant funding and who want to establish an equity relationship with Sky Ocean Ventures.
The aim of this competition is to support new scientific or technological innovation to reduce plastics waste and deliver a more circular economy approach to plastic use (including for polymer-based textiles and elastomers). For example, this could include:
- scalable innovations along the entire plastics value chain, from material to end of life
- technology-enhanced business models that foster responsible consumption and drive the circular economy model
- step-change efficiency improvements in the recycling, clean-up and treatment of waste plastics
Projects should describe how they aim to reduce plastic waste and pollution of the wider environment. You should clearly describe where revenue generation and growth will occur in the UK as a result of the innovation and its exploitation.
Also in scope are:
- alternative business models which encourage positive consumer behaviour
- business actions at scale to reduce consumption and waste of single use plastic
Your project can focus on one or more of the following, non-exhaustively:
- developing new sustainable polymer materials
- sustainable plastic alternatives
- alternative business models and supply chains that use less plastic
- resource usage and design for circularity
- new product designs
- technology-enabled models that change consumer behaviours
- new recycling processes, including collecting, sorting and processing of waste plastics
- increasing the value of recycled polymers through conversion to new input materials
- scalable, technology-enabled remedial solutions
Your project’s total costs should be between £100,000 and £200,000. Projects must start by 1 September 2019 and last up to 12 months.
To be eligible for funding you must:
- be a UK based small or micro company, or have registered as a UK business before the grant is awarded
- carry out your project in the UK
- work alone
Research and technology organisations and universities cannot apply, but spin-out UK companies can apply.
The competition closes on 13th March 2019 at 12:00pm.
For more information and to apply please click here.