The United Kingdom’s technology development arm, Innovate UK, announced on Monday it has up to £19 million ($26.6 million) to invest in innovative ideas for new products, processes and services in the fields of emerging and enabling technologies and health and life sciences, including blockchain technology.
Participants have to submit their proposal until March 28, 2018, and project must meet the specific competition scope. The projects’ scopes must cost at least £35,000 and last at least for three months, but can go on to three years with a cost of £2 million, according to the announcement. One more part of the eligibility criteria is that businesses should be able to raise up to 70% of their costs on their own.
The agency will also offer a further £12 million ($16.8 million) for businesses trying to recruit graduates to help develop their project.