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Multi-million marine innovation competition could benefit North East industry

Roughly £3 million worth of innovation money is available to North East marine businesses as part of a new scheme to boost the sector.

The Technology Strategy Board (TSB) has launched its ‘better systems at sea’ competition to coincide with the London Boat Show.

Encouraging collaborative R&D work the competition will offer business partners up to 50% public funding for their project costs.

The competition is aimed at the £19 billion UK maritime and marine sector, and last year attracted funding requests in excess of £21 million.

Successful projects included propulsion technology, emissions reduction systems and vessel routing systems.

Technology Strategy Board chief executive Iain Gray said: “There is huge appetite among UK companies in the maritime and marine sector to deliver innovation, particularly in achieving more low carbon and efficient systems.

“The number and quality of proposals submitted last year was excellent and we look forward to receiving a positive response to this new competition.”

The TSB welcomes expressions of interest before noon on March 5. For more information, visit the website here.

This was posted in Bdaily's Members' News section by Tom Keighley .