Aerospace businesses are set to benefit from up to £48 million of overall funding to develop new, advanced technologies.
Collaborative project funding from the Technology Strategy Board
Business and Energy Minister, Michael Fallon, announced that there will be a competitive call for businesses, through the Technology Strategy Board, for up to £25 million of government funding. It will be targeted at collaborative R&D projects undertaken by small and medium-sized aerospace suppliers (up to 250 employees). It is anticipated that each project will have a minimum of three partners from independent entities (not within the same corporate group). The £25 million will be match funded by the winning businesses, creating up to £50 million of total investment.
The competition opened on 16 September 2013 and the deadline for registration is 20 November 2013. The deadline for completed applications is 27 November 2013.
The National Aerospace Technology Exploitation Programme
The National Aerospace Technology Exploitation Programme (NATEP), led by the Aerospace Growth Partnership to address skills shortages and improve research and development collaboration, has also been launched.
Funding is available to collaborative partnerships undertaking projects typically lasting between one and two years. Typically £150,000 direct funding is available per project, with total funding of £23 million expected to mature 100 undeveloped aerospace technologies in the supply chain. The deadline for outline applications is 15 November 2013 for projects being launched from May 2014.