Government launches £2m fund to improve construction supply chain

The government has launched a £2 m incentive to encourage innovation in the building industry.

Innovate UK, the new name for the Technology Strategy Board, is investing £2m of funding to encourage integration and innovation in the supply chain.

Business’ can apply for a share of the fund if they demonstrate ideas which will “encourage the creation of more integrated, collaborative supply chains in the construction industry.”

The aim of the scheme is to increase collaboration in the construction industry supply chain and improve the flow of information throughout the supply chain.

Innovate UK said: “If you’re working in construction or any other industry sector your business can apply for this funding. These feasibility studies must be business-led and projects are open to companies of any size working in collaboration.”

If successful, small businesses could receive up to 70% of their eligible project costs. Medium sized businesses could receive up to 60% and large businesses could receive 50%.

The competition opens on 9th March and the deadline for registration is midday on 15th April.

There will be a briefing day for potential applicants in Bristol on 19th March and a consortium-building workshop in Birmingham on 27th January.