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BUSINESSES looking for funding to develop innovative ideas in the marine and maritime industry are invited to apply for a share of a £7.5m pot.

Innovate UK is investing £7.5m with DSTL in a collaborative research and development competition.

The aim is to stimulate innovation in technologies that will enable greater efficiencies in the production, management and use of energy on board a vessel.

Project must be led by a business and collaborate with at least one other partner. Successful businesses can expect to receive 50 to 60 per cent of their project costs.

It is a two-stage competition that opens for applicants on January 12, 2015. The deadline for expressions of interest is at noon on March 11. To find out more, visit