Driving the Electric Revolution Investment Readiness Programme 2022 Report
Discover more about the electrification investment programme, including information about the participating cohort, programme activities and investor pitches.
Driving the Electric Revolution Challenge
The Driving the Electric Revolution Challenge was launched in 2019 by the Department of Business, Energy and Industrial Strategy as part of the Industrial Strategy Challenge Fund (ISCF). The programme represents an investment of up to £80 million over 4 years for business-led innovation projects that enable UK supply chain and manufacturing capability growth in Power Electronics, Machines & Drives (PEMD).
The Investment Readiness Programme Summary
Under this Challenge, the Driving the Electric Revolution Investment Readiness Programme 2022 (DER-IRP22) was initiated to build on the 2021 cohort activity by providing guidance and support activities to the organisations that received funding from Driving the Electric Revolution competitions. The programme aimed to support the growth of these innovative businesses and accelerate the uptake of technology implementation from the competition.
Investment Readiness Programme Summary
The Driving the Electric Revolution Investment Readiness programme took a cohort of 13 companies through a training programme designed to support them in not only being able to pitch for investment, but also being ready for the due-diligence process.
The companies had the opportunity to pitch to investors, which resulted in an initial set of investor introductions, and those laid the groundwork for future discussions as these companies continue to refine both their value proposition and their pitch.
Innovate UK KTN will continue to work with the cohort, providing one-to-one support in addition to further training sessions in the future, to provide investment opportunities that will enable businesses that have won Driving the Electric Revolution competition funding to continue to scale and succeed.
For more information about the Driving the Electric Revolution Investment Readiness Programme, make sure to contact Sven Knowles, Electronic Systems Knowledge Transfer Manager and Matthew Wasley, Photonics Knowledge Transfer Manager.
Driving the Electric Revolution: 2020 Annual Report launched
An in-depth review of the Driving the Electric Revolution challenge throughout 2020, including KTN support and activity.