The UK government’s competition has invited applications from projects that show high-growth potential innovations including distributed ledger technologies.

According to the competition website, ‘Emerging and Enabling Technologies programme (E&E)’ identifies and invests in new technologies and the underpinning capabilities that improve existing industries.

“The aim of this competition is to help businesses broaden out innovation activities, to find new sources of revenue from new products, processes or services,” the competition website stated.

Apart from blockchain technology, the project proposal can fall into any enabling technology areas such as satellite applications, electronics, sensors, photonics, IoT, cybersecurity, among others. The proposals must demonstrate how project success will improve business growth and productivity.

The competition will fund a portfolio of projects that include technical feasibility, industrial research, and experimental development. The selection will be based on a balance of topic areas, timing, and costs. The selected innovative projects will receive funding amount of up to £15 million.

To participate in the competition, projects have to be UK based businesses of any size, and must at least have one SME involved in their proposal. Applications are due by 7th December 2016.