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New £470,000 fund for businesses to create innovative cycling products - BikeBiz

New £470,000 fund for businesses to create innovative cycling products

Department for Transport announces £470,000 scheme for businesses seeking funding for innovative cycling and walking products and services.
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The Department for Transport has announced a £470,000 grant-aid scheme to enable businesses to create innovative cycling and walking products and services.

Innovations may include technology, infrastructure, manufacturing or behavioural change, says the DfT adding that the funding pot is particularly suitable for early-stage, small and medium-sized enterprises.

The grant scheme is a Small Business Research Initiative, and has two phases. Up to £170,000 is allocated for the first phase in total, and and up to £300,000 for the second phase.

Applicants must register by midday on 7th June (hint: that's the day before a certain UK-wide event) with the final application by midday on 14th June.

The grant will be open to businesses, and organisations, able to develop products or services that:

  • make it easier for people to cycle to work
  • improve the image of cycling so that more of people feel it is an activity they can incorporate into their daily routines
  • improve road safety and helping people, particularly teenagers and women, feel safer. 
  • make it easier to undertake journeys that include both cycling and travelling by rail

This new fund follows the earlier Innovation Challenge Fund which gave out £90,000 grants. 

The DfT press release announcing the new fund used a library image of the Brooklyn Bridge in New York.

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