David Elson, Head of Manufacturing and Materials at Innovate UK, takes a look at some of the activities the innovation agency has been involved in during the past year, while also looking ahead to 2022.
At Innovate UK we were very pleased to publish our Innovate UK Plan for Action for Business Innovation. This is our plan for how we will deliver on the UK Innovation Strategy, with the vision for the UK to become a global hub for innovation by 2035. Our Plan for Action will form the basis for our work over the next four years to serve and support UK businesses to use innovation to drive our economic recovery; to fulfil our net zero obligations; to help keep everybody in the UK healthy and safe; and to educate our young people and develop the innovators of the future.
Faraday Battery Challenge
Breathe Battery Technologies (above) has received a £1.5m investment, led by Speedinvest, alongside leading angels, following the Faraday Battery Challenge Investment Readiness Programme, co-led by Innovate UK KTN. Breathe Battery Technologies is an advanced battery management software developer based in London.
The company received a Faraday Institution Entrepreneurial Fellowship award in 2019, and following that, the company has achieved significant technical and commercial milestones in the growing market for intelligent battery management software. The investment from Speedinvest comes as a direct outcome of Breathe’s participation in the Faraday Battery Challenge
Singapore and the UK strengthen enterprise, co-innovation and R&D
Advanced manufacturing and materials are key areas where the UK and Singapore have agreed to strengthen innovation ties. The two counties have signed a Memorandum of Understanding (MOU) to further build cooperation in co-innovation and joint research and development (R&D). This is to enhance enterprise competitiveness and facilitate go-to-market partnerships in emerging technologies. Investment Readiness Programme, which was run jointly by the Faraday Battery Challenge and Innovate UK KTN.
The programme took 14 UK-based SMEs active in the battery sector into a pitch training journey and culminated in an investor showcase event with five finalists including Breathe Battery Technologies. Faraday Battery Challenge and Innovate UK KTN will be running another Investment Readiness Programme in early 2022. The MOU was signed by Tan Soon Kim, Assistant Chief Executive Officer of Enterprise Singapore (ESG), and Simon Edmonds, Chief Business Officer of Innovate UK.
This is the first bilateral MOU between ESG and Innovate UK, which builds on the strong mutual interest in co-innovation between Singapore and UK companies. Under the MOU, ESG and Innovate UK will launch the Singapore-UK Bilateral Co-Innovation Programme (CIP) to develop and fund eligible innovation projects between Singapore and UK enterprises in areas such as advanced manufacturing and materials; agri-food technology; mobility and transport; health and life sciences and cyber security.
The first call for proposals will be launched in early 2022 and more details will be shared in due course. Over the past two years, the number of partnerships between UK and Singapore grew significantly. In 2020, UK-Singapore joint applications made up half the total number of applications in an innovation grant call organised for Singapore and Eureka member countries. Singapore-based space-tech company, Aliena, is one such participant who partnered UK-based Imperial College and URA Thrusters to develop a technology that uses water electrolysis for electric propulsion systems. The technology focuses on the use of water as a sustainable and cost-effective alternative to traditional noble gases in spacecraft applications. This partnership also gave Aliena access to URA Thrusters’ expertise and networks to large space corporates. Since 2018, ESG has supported close to 90 joint innovation projects by Singapore companies with partners in markets such as France, Germany, Israel and China through our international co-innovation programmes.
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