Start-ups and SMEs set for innovation boost from TSB

Start-ups and small and medium-sized enterprises (SMEs) are set to receive a £1.1m innovation boost to help them develop new ideas, improve processes and target new markets.

A second wave of innovation vouchers are being made available through the Technology Strategy Board (TSB). The extra funding is for innovation vouchers for businesses that want to use public open data to commercialise their ideas and develop products and prototypes.

The Innovation Vouchers scheme was launched in September, providing £5,000 to businesses wanting to develop ideas applicable to agri-food, the built environment and space.

As well as the additional funding for open data use, the vouchers are also being extended for businesses with innovation ideas in the areas of energy, water and waste.