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Sector and Funding update - Jan 2018

29 January 2018

Following the publication of the Government’s national Industrial Strategy late last year, there has been extensive press coverage recently for the launch of the Automotive “Sector Deal”.

The document seeks to determine the direction and long-term strategic priorities for the sector, closely aligned with some of the Grand Challenges set out within the strategy white paper. 

These include: the future of mobility, clean growth and artificial intelligence -the data revolution. Key policies cited within the sector deal include commitments to advance the UK’s global expertise in low or zero emission vehicles (EV and the Faraday battery challenge) and driverless cars/intelligent mobility (CAV).

With several different funding streams currently available, many of the High Performance Technology and Advanced Engineering businesses in the SEMLEP area may wish to apply. This document provides a brief overview of funding details and links.

Low Carbon/EV/Batteries

The Harwell Science and Innovation Campus - located at Didcot Oxfordshire - was selected last year as being the home of the Faraday Institution Headquarters; a Government-funded research institute charged with leading the UK’s research into energy storage and battery technology.

This was followed up in November with a further announcement concerning the creation of a new state-of-the-art National Automotive Battery Manufacturing Development Facility in Coventry, via a consortium led by the Warwick Manufacturing Group (WMG). This is a new £80m Government backed initiative.

Faraday Battery Challenge 

Businesses have the chance to apply for a share of £25million in the latest Faraday Battery Challenge opportunity. Innovate UK has up to £25million to invest in new automotive battery technologies that help to build the vehicle battery supply chain in the UK. The fund will support the development of safe, cost-effective, durable, lighter weight, high-performing and recycle batteries.

Application deadline: 28th March 2018

Learn more: https://www.gov.uk/government/news/new-battery-technologies-for-electric-vehicles-apply-for-funding  

APC9 Latest funding competition

Anchoring low carbon technology development in the UK, is now open. Up to £30million match-funding is available for innovation that actively accelerates low carbon propulsion technologies to market.

Application Deadline: 7th March 2018

Find out more: https://apply-for-innovation-funding.service.gov.uk/competition/97/overview 

 

Driverless Cars/CAV/intelligent mobility

In Spring 2017, the Centre for Connected and Autonomous Vehicles (C-CAV) identified the area of the UK with the greatest assets and expertise in testing of driverless cars - indicating the Government’s CAV test hub. This eco-system included universities, test facilities, proving grounds and key stakeholders. (A map of these assets is adapted to the right).

In September 2017, BEIS created a new organisation called “Meridian” to focus upon key areas of UK capability in the global CAV sector. These include advanced development and validation, connected environments, data and cyber security and new service development.

Government and industry have committed an initial £100 million through Meridian to develop a coordinated national platform of CAV testing infrastructure. The first £51 million was announced in October 2017 and the next funding competition will open in Q1 2018.

Meridian - based nearby in Coventry - brings together government, academia, innovators and developers of intelligent mobility solutions in a collaborative partnership. Meridian’s activities stimulate and amplify the essential collaboration required across sectors and international borders to realise sustainable mobility.

Roads for the Future

The National Infrastructure Commission (NIC) is conducting a new innovation prize, for ideas on how to deliver a world-class road network in the UK ready for connected and autonomous vehicles: Roads for the Future.

The UK is among world-leaders in developing connected and autonomous vehicles, with the first such cars already being tested. But as the technology improves and progresses, the country’s road network will need to adapt to ensure the country can make the most of this opportunity.

This new competition, run in conjunction with Highways England and Innovate UK, launched on 15 January, with entrants asked to consider issues such as road design, traffic management and how the rules of the road may need to be adapted to take account of this new technology.

Application Deadline: 7th March 2018

Learn more: https://apply-for-innovation-funding.service.gov.uk/competition/94/overview 

Using simulation to test self-driving vehicles

The Centre for connected and Autonomous Vehicles (C-CAV) in partnership with Innovate UK has up to £15 million to invest in projects that use simulation and modelling in the development of approvals and standards for autonomous and connected vehicles.

Application deadline: 2nd May 2018

Learn more: https://www.gov.uk/government/news/using-simulation-to-test-driverless-vehicles-apply-for-funding 

 

Growth Finance

The Midlands Engine Investment Fund

The fund, established by British Business Bank, aims to support fast-growth businesses looking to expand into new markets and boost productivity, supporting job creation. 

The MEIF is the result of collaboration between the British Business Bank, the Department for Business, Energy and Industrial Strategy (BEIS), the Ministry for Housing, Communities and Local Government (DCLG) and 10 Local Enterprise Partnerships, including SEMLEP. It brings together new and existing funding from Central Government, the European Regional Development Fund (ERDF), British Business Bank and European Investment Bank (EIB).

This fund provides a small business loans fund (for start-ups) of up to £150,000 and a debt finance fund (for established businesses) that can provide loans up to £1.5 million, together with a proof of concept fund that can make investments up to £750,000 and another equity fund which can provide up to £2 million.

For more information, please visit www.meif.co.uk or speak to a business adviser at your local growth hub. Businesses in the South East Midlands should attend Velocity Growth Hub's A to Z of Growth Finance workshop https://www.velocitygrowthhub.com/a-to-z-of-growth-finance/ for more.

We also have excellent links with both the Automotive Council and the Automotive Investment Organisation. You may also be interested to find out more about the Silverstone Technology Cluster (STC).   https://www.silverstonetechnologycluster.com

SMMT Guidance

The SMMT recently published a helpful support guide. The document brings together sources of money and support that is useful for businesses active in the automotive sector. The document is available online, and will be updated regularly.

View the document here: https://www.smmt.co.uk/wp-content/uploads/sites/2/funding-and-support-guide-v28-final.pdf   

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