The Department for Transport is to launch a Cycling and Walking Small Business Research Initiative in partnership with Innovate UK. This is in addition to the Innovation Challenge Fund announced earlier this month.
The government has been running Small Business Research Initiative since 2015 but this is the first time cycling and walking products will be eligible.
"Through this competition we will be seeking to support the development of new solutions for increasing cycling and walking," a DfT spokesman said.
"Selected bidders will receive funding to support product design and development."
Further details will be announced soon, revealed the DfT.
"In the meantime, we encourage prospective bidders to start collaborating and developing ideas."