News Desk

Funds for regulators to help innovative businesses are now open

UK businesses stand to gain from the new £3 million regulators' pioneer fund (RPF) which allows eligible regulators to partner with businesses to help them bring innovative products and services to the market.

This is the second round of funds orchestrated by the Department for Business, Energy and Industrial Strategy, the first having invested up to £10m in 14 regulator-led projects during 2018-20.

The competition is open to applications from 20 May 2021 to 15 July 2021.

A project's total grant funding can be up to £200,000 and to be eligible, must end by 31 March 2022 and run for at least six months.

Projects must address one or more of the Government's priorities, including tackling long term poor productivity growth, tackling climate change and seizing post-Brexit opportunities.

Regulators and local authorities can be the lead applicant on up to three applications, and may involve partners, including businesses and industry bodies in their proposed project where participation is relevant.

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