Innovate UK has launched a new financing competition that aims to push the UK to success in machinery, power electronics, and motors research and development (PEMD).
Building Talent for the Future 2 will be putting $4.5 million into the industry to promote course content relevant to building the skills and training needed in PEMD development and distribution.
“Innovate UK has launched a new financing competition“
Those hoping for an investment from £50,000 and £1,000,000 must hand in an expression of interest (EOI) by the beginning of March. Groups seeking fewer than £50,000 will not need to hand in an EOI, however they will need to hand in a full proposal in March.
DER’s (The Driving the Electric Revolution’s) challenge director, Professor Will Drury, expressed that “If we are to meet our Net Zero commitments by 2050, industry needs to move to clean technologies and electrification. Without a skilled workforce we cannot create a strong PEMD manufacturing supply chain in the UK, forcing us to import these technologies from around the world. By investing in skills, talent and training in this sector we aim to support the growth of not only the UK’s PEMD supply chains, but its people too.”