InnovateUK: Transforming accountancy, insurance and legal services with AI and data (small projects strand)
Funder deadline: 15th August 2018
UK business and research organisations can apply for a share of £12 million from the Industrial Strategy Challenge Fund. This is to develop AI and data enabled products and services within accountancy, insurance and legal services.
Funder deadline: Wednesday 15 August 2018 12:00pm
Faculty 1st draft review: 18th July 2018
Faculty EOI: 9th July 2018
This funding call will be of interest to academics who have partners who could collaborate on a projects that address the direct industry challenges faced by Legal, Accounting and Insurance Firms with the adoption of AI and Data Technologies.
Purpose:
The ‘pioneer’ fund will invest in businesses and researchers to develop the next-generation of services to transform industries such as accountancy, insurance and legal services in the UK, and lead the world.
Services account for almost 80% of the UK economy, with financial and professional services alone employing around 2.2 million and valued at £190 billion.
As technologies such as artificial intelligence and data analytics become ever more ubiquitous, we need to prime the UK services sector to take advantage. These can help create a more efficient, productive and competitive sector, and significantly improve the services that are provided to customers and clients.
What you need to know:
This is a call being run by Innovate UK and the deadline is 15th August 2018. These projects can include academic researchers in social sciences, humanities, computer science and mathematics. These projects need to show significant transformational impact on the sector.
Small collaborative R&D projects (e.g. feasibility studies or industrial research projects)
Large Consortia R&D projects addressing common, sector wide challenges that require a co-ordinated approach (e.g. supply chains or regulators standards tested and piloted)
Criteria:
- Universities cannot lead small grant applications, but we can support the UK based SME or business consortium with the application.
- last between one and 2 years
- businesses can recover up to 70% of their project costs
- Only 30% the total project costs can be for a Research Organisation
- must start by 1st December 2018 must end by March 2021
- A maximum of 70% of the project total can be funded (60% if it is a medium sized business and 50% for a large organisations).
For further information on the call follow the link on the government’s website.