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Do you have an innovative idea that could improve productivity?

Posted on 29/06/2018

Businesses can apply for a share of up to £2 million to test ideas for increasing the adoption of practices that improve productivity.

Innovate UK, on behalf of the Department for Business, Energy and Industrial Strategy (BEIS) have released details of a £2 million funding competition aimed at identifying and testing ideas that encourage SMEs to adopt existing technology and management practices that would improve their productivity.

The funding is part of the government’s Business Basics Programme, announced as part of the modern Industrial Strategy, as is broken down to fund 2 types of project, proof of concept or feasibility studies and full-scale trials.

Projects should look at how to increase the adoption of technology and business practices to improve the productivity of SMEs. This could include:

  • adopting existing technology, such as accountancy, CRM or HR software, cloud computing or payment systems
  • adopting modern business practices, such as leadership and management capabilities or developing an innovation culture
  • a combination of the 2 approaches above

Ideas could include increasing awareness about the benefits of technology, how to create interest in adopting new technology and business practices, making the benefits of new technology clearer and providing advice and support.

The competition opened on the 26th June and the deadline for applications is at midday on 4 September 2018. A briefing webinar will be held on 12 July 2018 to provide further details about scope.

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