Innovate UK invests £13 million in transformative technologies

Co-Founders of NovNat, Ibrahim Albaik and Abdulbari Belouafi

Cutting-edge projects in areas including semiconductors, artificial intelligence, quantum, and engineering biology have received up to £50,000 each from Innovate UK.

Affordable, adoptable and investable innovations

270 UK-based small companies have been awarded funding.

The aim is to transform our economy, society and environment for the better.

Each company awarded funding have never previously received funding support from Innovate UK.

Among the 270 winners are:

  • CSBR Ltd: a St Andrews-based start-up looking to switch out fossil derived aromatics and olefins with oil made out of waste cashew shells
  • NovNat Tech: a University of Birmingham start-up developing a novel material able to extract water from the air in any environment around the world, no matter how dry
  • Corryn Biotechnologies: a spinout from Swansea University developing a technology to manufacture and apply wound dressings made from nano and micro-fibres to treat complex wounds without touching them. The company applies resorbable materials that coordinate with the natural healing response of the damaged tissue to accelerate wound closure.
  • Ramanomics Ltd: a University of Oxford spinout developing novel technology that can determine the cause of pneumonia in patients, meaning whether it is viral, bacterial, or fungal, in under 30 mins. This will reduce diagnostic waiting times by nearly two full days
  • Entoplast: a Hertfordshire based start-up creating an environmentally friendly plastic-like material, known as bioplastic, made from insects found in organic waste

Crucial cash flow to accelerate innovation

Lisa Hazelden, Chief Product Officer at Innovate UK, said:

Congratulations to each of these 270 pioneering small businesses receiving their first Innovate UK grant.

These awards will provide crucial cash flow to help accelerate the innovation that will drive our future economy and society.

We wish them every success and look forward to collaborating with them as they grow and scale.

Building on fast start

All projects will be completed over the next six months.

This builds on Innovate UK’s fast start programme.

Since 2020, Innovate UK has supported close to 2,000 UK companies in this way.

Innovate UK monitors the grants closely both in terms of commercialising the innovation, but also the impact the funding has on the business itself.

As a result of these grants many of the businesses have gone on to:

  • create new revenue streams
  • hire new employees
  • secure further investment

Top image:  Co-Founders of NovNat, Ibrahim Albaik and Abdulbari Belouafi. Credit: NovNat

This is the website for UKRI: our seven research councils, Research England and Innovate UK. Let us know if you have feedback or would like to help improve our online products and services.