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UK Research and Innovation is offering £12m co-funding to support the best innovations that help people as they age

09/09/2020

UK Research and Innovation is offering £12m co-funding to support the best innovations that help people as they age

More than £12 million of government funding is now available to commercial investors, social impact investors and charities who can provide equity investment, to fund the best innovations to help us all to stay independent, active and productive in our later lives.

The £12 million will jointly fund investment into smaller businesses developing products, solutions, and services, which address one or more of the seven themes of healthy ageing. A total of £29 million in government grants, with aligned funding from private investors, will be available over the next four years for individual projects up to £2 million.

The healthy ageing challenge is supporting the UK government’s Ageing Society Grand Challenge to ensure people can enjoy at least five healthier, more independent years of life by 2035, while narrowing the gap between the experiences of the richest and poorest.

£13 million of grant funding has already been allocated, alongside private equity from existing partners from the first competition, including Legal & General, Barclays Ventures and Northstar Ventures.

Now UK Research and Innovation is now looking for further investor partners to work with on this initiative. Interested investors can contact Helen.Crampin@Innovateuk.ukri.org


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