Investing in foundation industries: help to back innovators

19 Oct 2020 03:20 PM

Investors can join a programme to support businesses carrying out innovative projects that aim to reduce resources and energy use in key industries.

Foundation industries, such as the cement, glass, ceramics, paper, metals, and bulk chemical sectors, are vital for UK manufacturing. They are worth £52 billion to the economy.

However, they are responsible for 10% of UK CO2 emissions and consume lots of raw materials and energy. Manufacturing equipment has a long life, and it is difficult to introduce efficiencies that improve resource use and maintain competitiveness on the global stage.

The government’s Industrial Strategy Challenge Fund Transforming Foundation Industries Challenge is supporting innovative business projects looking at ways of reducing energy and resource use.

Innovate UK, part of UK Research and Innovation, is seeking partner investors willing to invest in businesses that carry out projects with support from the fund.

Find out more about the Industrial Strategy Challenge Fund Transforming Founding Industries Challenge

Investors must identify promising businesses

Innovate UK has up to £7 million to invest in small and medium sized enterprises in the foundation industries carrying out projects to reduce energy and resource use.

Investor partners will be expected to identify potential businesses. They could be:

The businesses will be asked to submit funding applications for projects that meet the objectives of the challenge:

Investors could include venture capital, angel networks, or corporate venture investors. They will be asked to make an investment that equals or exceeds the value of the Innovate UK grant.

Find out more about applying for Innovate UK funding.

Competition information

Find out more about this competition and about applying to become an investor partner.