FIN Funds Yorkshire and Humber, UK-Based SMEs to Accelerate Formulation Development

The newly-launched Formulation Innovation Network (FIN) has announced a series of “30 Day Challenges” each one backed by up to £25,000 of funding, to help companies accelerate their innovation and get their product formulations to market.

Formulations are the basis for many products used by consumers and industries.
By combining ingredients in a specific way and processing them, formulations produce the desired end result for a range of sectors including pharmaceuticals, personal care, household products, food, crop protection, manufacturing, paint and adhesives.

The challenge will provide each successful applicant (a private sector company or consortium) with up to £25,000 of technical resources to use at a service provider, typically a University Centre for Industrial Collaboration, to solve formulation problems or open up new opportunities.
FIN, which aims to assist SMEs (small- and medium-sized enterprises) to put the Yorkshire and Humber region at the forefront of development in product formulation, is supported with funding from Yorkshire Forward and the European Union through the 2007-2013 European Regional Development Fund (ERDF) Programme which is investing over £500m in the region to create jobs and increase competitiveness.

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