Plastic pollution is one of the biggest threats to the health of the oceans alongside climate change and according to UN reports, more than 8 million tonnes of plastic enter the water every year and that amount is expected to triple by 2025.
With significant action needed to solve the problem, Innovate UK and Sky Ocean Ventures have joined together to offer UK businesses £6 million in simultaneous public and private funding.
Innovate UK will provide up to £3 million in grants to enable the UK to lead the fight against waste, create new ideas and alternatives to everyday plastic, and to get products quickly into the market. A portion of this money is coming from the Plastics Research and Innovation Fund, a £20 million program led by UK Research and Innovation.
With Innovate UK offering the public grants, Sky Ocean Ventures will offer the same amount in private investments. The company supports young companies by supporting them to help create change by highlighting environmental disaster caused by plastic pollution in the oceans.
The most interesting part of the project is it awards the funding to whomever wins a competition coming up with the best ways to reduce plastic pollution.
Ideas to reduce plastic waste
The first part of the funding competition is inviting applications from projects that reduce plastic waste and pollution of wider environment and promote a circular economy.
Applications should identify where revenue generation and growth will occur in the UK as a result of the innovation being developed and exploited.
In a statement regarding the competition, Energy and Clean Growth Minister, Claire Perry said, “Heart-breaking images of wildlife suffering due to plastics waste have been a stark reminder that harmful pollution can have a devastating impact on our oceans. That is why, this time last year, the Prime Minister committed us to eliminating all avoidable plastic waste by 2042. We are investing more than ever before to find alternative materials to harmful plastics. We want innovators and businesses to get behind this too, helping us find new ways to cut down waste and pollution while growing their business to have global impact.”
If interested in the competition, here is the info
- The first part of the competition is open, and the deadline for applications is at midday on March 13, 2019.
- Micro and small businesses are eligible to apply as long as they are working alone.
- Applicants must be based in the UK and intend to carry out the work here.
- Projects are expected to cost between £100,000 and £200,000 and to last up to 12 months.
- Funding is for feasibility studies, industrial research or experimental development.
- Successful applicants could get up to 100% of their project costs. This will be split between Innovate UK and Sky Ocean Ventures
If you are someone who is set to change the world and make a true difference , you can apply here. Good luck!