A new £20M funding programme is set to launch across the UK for manufacturers. The aim of the programme is to help manufacturers overcome supply chain issues caused by the global pandemic. The programme will aim to do this by assisting manufacturers with the integration of advanced digital technologies. The funding has come from UK Research and Innovation and the Made Smarter Innovation programme who will be contributing a combined £10M between them. In addition, £10M has been invested by the private sector.
How will manufacturers benefits?
The partners of this programme will work with technology companies, researchers, and academics across the UK to develop an ecosystem for UK manufacturers that is resilient, competitive, and sustainable. This will enable UK manufacturers to solve multiple challenges that they face in today’s supply chain.
What projects will the funding be used for?
The Made Smarter Digital Supply Chain Innovation Hub will work together with UK based manufacturers and universities on multiple projects that aim to increase current expertise and increase commercial integration of industrial digital technologies. This includes:
The Last Mile Living Lab: This is used to develop and investigate the challenges and often expensive last mile of delivery and how to improve the efficiency and cost of this.
Digital Enabled Manufacturing Sourcing: The aim of this project is to increase capacity utilisation and production flexibility.
Differentiator: A project that aims to deliver new supply chain models for medicine, on-demand.
The Connect Tempest: This project aims to invent a digital test bed to increase innovation across a number of tiers of supply chain networks that is also collaborative and secure.
The announcement of this new funding is exciting for manufacturers across the UK, especially after such a difficult year due to the pandemic. This new funding will enable manufacturers to implement new technology and innovation to become more efficient and help them recover from the global pandemic.
How can we help?
At Hawsons we have a dedicated team of manufacturing and engineering accountants at our offices in Sheffield, Doncaster, and Northampton. Our specialist team offers a wide range of services that are tailored to meet your individual needs. Our understanding of the issues faced by the manufacturing and engineering businesses means that we can proactively seek out ways for you to maximise your profitability and minimise your tax liabilities.
Free initial meeting
Senior Partner, Sheffield
0114 266 7141