£7 million fund announced for SME AI projects

UK SMEs in high-growth industries looking to adopt AI solutions could receive £7 million.

  • 5 months ago Posted in

UK SMEs in high-growth industries that are looking to adopt AI solutions could receive £7 million, following the launch of two new competitions.

The high-growth industries in question include:

Agri-food

Construction

Transport and logistics

Creative industries

The funding will come from the UK Research and Innovation (UKRI) Technology Missions Fund and will be delivered by Innovate UK’s BridgeAI programme. Ahead of the competition, the UKRI engaged with potential applicants, which included hosting an in-person workshop event and an online briefing session last month.

The first competition is supported by £5 million in funding and will support a second round of feasibility studies. The second competition will allow existing round one projects working in areas such as fashion and farming to apply for a share of £2 million.

Applicants are encouraged to submit a range of responsible and trustworthy AI solutions. The deadline for both competitions is 08 May 2024.

As a trade body representing over 1000 SME members, techUK welcomes this announcement, which will support SMEs to grow and innovate. 

Developer productivity and quality engineering has passed the tipping point of adopting generative...
HCLTech has launched its advanced AI Transformation academy in partnership with Multiverse, a...
Wireless Logic report reveals significant demand for eSIM, remote SIM provisioning and robust...
Partnership with IFS to boost efficiency, increase operational agility and support planning and...
Tech Mahindra has established a Center of Excellence (CoE) powered by NVIDIA platforms to drive...
ISACA research shows automating threat detection/response and endpoint security are the most...
Deployed in minutes without code or consultants, Freddy AI Agent delivers fast time to value,...
Splunk has released The State of Observability 2024 report in collaboration with Enterprise...