The Technology Strategy Board is to invest up to £1m in innovative business-led R&D projects in motorsport, high- performance engineering, and related technology consultancy centred in the UK’s ‘Motorsport Valley’ cluster.
We aim to stimulate and engage this innovative cluster in broader technology and business partnerships with other adjacent sectors. We want to draw investment and people into the area and to encourage networking to strengthen this cluster of motorsport companies.
We are looking for projects that companies could not fund without broader support, or that may take them into new areas, and where the majority of the project activities will take place within the Motorsport Valley cluster.
We will fund up to 60% of eligible project costs in industrial research projects and
it is expected total project costs will range between £50k and £200k. Projects can last up to 12 months and should be led by micro, small and medium-sized businesses working individually or in collaboration.
Successful applicants can participate in a programme of business support and growth activities, including support to access external finance to fund a proportion of the project costs or commercialisation of the outcomes of the project.
The competition is being run in two stages:
1. Video proposal – where applicants describe their project idea in a two-minute video.
2. Written proposal – for applicants shortlisted based on their video submission.