Strategic Innovation Fund - Ofgem and InnovateUK
The Strategic Innovation Fund (SIF) is a funding mechanism for the Electricity System Operator, Electricity Transmission, Gas Transmission and Gas Distribution sectors.
The SIF aims to find and fund ambitious, innovative projects with the potential to accelerate the transition to net zero. These projects should help shape the future of the gas and electricity networks and succeed commercially where possible.
The fund is expected to invest £450 million in energy network innovation from 2021-2026, with the option to extend and increase as necessary.
The SIF is delivered in partnership with Innovate UK, part of UK Research and Innovation (UKRI). Our objective for the SIF is to help transform the UK into the ‘Silicon Valley’ of energy, making the UK the best place for high potential businesses to grow and scale in the energy market.
Using Innovate UK’s expertise and extensive business and academic networks, the SIF programme will tap into the best of UK and international innovation whilst also aligning with other public innovation funding, delivering measurable benefits to network users and consumers.
Working with our stakeholders, we have identified four Innovation Challenge areas. These are:
- Whole system integration
- Data and digitalisation
- Zero emission transport
The first SIF Innovation Challenges will open to applications on 31 August 2021, when we will invite project proposals from licensees.