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£1million Motorsport Valley Launchpad competition

Motorsport Valley Launchpad Competition

The Technology Strategy Board will invest up to £1m in innovative R&D projects, with a focus on organisations engaged in motorsport, high performance engineering and commercial activities related to the ‘Motorsport Valley cluster’.  (See here for some background on Motorsport Valley)

The competition (click here to view the scope of the competition) aims to stimulate and engage this niche sector in broader technology and business partnerships with other related market sectors, thereby significantly increasing new business and opportunities for commercial success.

MIA Motorsport Technology Roadmap

They will fund projects that support the development and commercialisation of innovative R&D work in line with MIA’s Motorsport Technology Roadmap and which have clear potential for application in adjacent sectors. To view the roadmap, click here and scroll down. 

They want to draw investment and people into the valley and to encourage networking to strengthen this cluster of motorsport centric companies. They are therefore looking for projects that companies could not fund without broader support, or that may take them into new areas and where the majority of the project activities will take place within the motorsport valley cluster.

Criteria

They are offering to fund up to 60% of eligible project costs in industrial research projects, with expected project costs ranging between around 50k-£200k. They expect to fund projects that will last up to 12 months and are led by micro, small and medium sized businesses.  Successful applicants can participate in a programme of business support and growth activities, including support to access external finance to fund a proportion of the project costs or commercialisation of the outcomes of the project.

Find out more

If you're interested in this competition, please join the dedicated group for the Motorsport Valley Launchpad Competition.  Information on the competition will be disseminated first to members of this group, including when regsitration for the competition is actually open.

About the competition

The competition is being run in two stages:

1. Video proposal (opens 24th June 2013) – where applicants describe their idea in a two-minute video.  

2. Written proposal – for applicants shortlisted based on their video proposal.

All projects invited to make written proposals (whether they have a Technology Strategy Board letter of intent for grant funding or not) will be invited to a workshop to showcase their ideas to potential investors where they will have the opportunity to attract the remaining funding to run their project (if they have not secured it already). 

Information day

There will be an information and networking day at the Jimmy Brown Centre in Silverstone on 3rd July.  There is an opportunity for you to make a short elevator pitch and/or exhibit at this event.  Please click here for more info and to book.

 

Key Dates

24 June - 1st Stage in competition opens - upload your 2 minute video proposal

31 July -  1st Stage of competition closes.

Shortlist drawn up from video proposals. 

19 August - 2nd Stage opens - shortlisted candidates are invited to submit a full written proposal, and also invited to a workshop to showcase their ideas to potential investors

18 September - 2nd Stage closes.

15 October - successful applicants to be notified

Late Jan 2014 - presentation to potential funders

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