Department for Transport Launches £2.5m Tech Funding
The Department for Transport (DfT) has launched three grants that total £2.5m to help “future proof” the transport industry by harnessing innovation.
The funding is intended to reduce innovation and is said to be available to companies, individuals and academics.
John Hayes, transport minister, said the government is committed to improving the UK transport system and that “innovation is a vital part of that”.
He added: “We are already making headway and expect to see more smart ideas and technologies coming from this funding.
“Through these schemes, small businesses and academics gain access to much-needed financial support, allowing them to explore new ideas and move innovations on to the next stage of development.”
So far, the DfT has already awarded 33 transport technology research innovation grants – worth a total of £833,000 – to early-stage innovations. A further 700,000 is being made available for a second round of T-TRIG awards. The T-TRIG grants are usually available to SMEs and academia.
In the recent Autumn Statement Chancellor Philip Hammond promised a £390m investment in future transport technology.
He also announced a £23bn national productivity investment fund that will be spent on innovation and infrastructure in sectors such as housing, transport, digital communications and research over the next five years.
View Internet News Archive