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Search is on for new generation of young innovators

Young people across the Marches who are looking to turn their business ideas into reality are being urged to take part in a special competition.

Innovate UK – part of UK Research and Innovation – is investing £2.4 million in innovators aged 18 to 30 under its Young Innovators scheme to help them turn their ideas into successful businesses.

Each Young Innovator will receive a £5,000 grant, along with two days a week (15 hours) living allowance and customised business support while they develop their project for a year.

A range of different projects will be funded and winners will be selected who have a high potential to become a successful entrepreneur and an inspirational role model to others, represent a diverse range of ideas for businesses, are located across the UK and are likely to benefit the most from the award.

The aim of the project is to provide funding to plans which are innovative, address a problem and are significantly better than what existing businesses have to offer.

The Young Innovators programme will begin for successful applicants on December 1 2022 with the support being provided for the following 12 months. There will also be a bootcamp on  November 15 2022.

A spokesman said: “We are looking to support award holders across the UK working on a wide range of business ideas, types, sectors, products, processes, and services.

“Diversity in businesses adds to better performance and commercial success. We welcome and encourage applications from people of all backgrounds and are committed to making innovation support more visible, accessible, and inclusive.”

For more information and to apply by July 27 2022, please click here.

 

Originally published by marches growth hub