Transforming Accountancy, Insurance and Legal Services with AI and Data (Small Projects Strand)

Funding opportunity:

Transforming Accountancy, Insurance and Legal Services with AI and Data (Small Projects Strand)



Funder and programme:

UK Research and Innovation (UKRI) – Industrial Strategy Challenge Fund (ISCF)

Project total costs:

Up to £ 400,000



Competition closes:

15/08/2018 (12:00 noon)

UK business and research organisations can apply for a share of £12 million from the Industrial Strategy Challenge Fund. This is to develop artificial intelligence (AI) and data enabled products and services within accountancy, insurance and legal services.

UK Research and Innovation (UKRI) will invest up to £12 million in innovation projects to support the application of AI and data technologies. Projects should aim to transform the 3 target sectors:

  • Accountancy;
  • Insurance;
  • Legal services.

These are sectors where there is an imminent threat from overseas competition.

This competition is part of the Next Generation Services Challenge. This is a joined up national innovation programme. It supports projects from applied research through feasibility studies to experimental development.

All projects should show how they will address challenges which will delay or adversely impact adoption. For example, this can include issues around ethics, privacy, bias and transparency and how people’s acceptance and behaviours will affect the service transformation.

There are 2 strands to this competition. This strand is for small consortia or single SME projects. A business must lead and consortia can include academic research partners and RTOs. The other strand running in parallel to this is for larger projects.

UKRI is expecting to fund between £2 million and £4 million of grants in this strand. UKRI reserves the right to manage budgets between the 2 strands to ensure a balanced programme.

Total project costs should be up to £400,000 and projects should last between 1 and 2 years. Projects should plan to start 1 December 2018. All projects must be completed by 31 March 2021.

MSC R&D can help your business develop by supporting you in:
• Identification of appropriate grants and competition calls for proposals
• Partner search for collaborative Research & Innovation
• Bid writing
• Project management
• Audit compliance
• Commercialisation
• Business Planning
• Market Intelligence reports

If you want help with any of these opportunities, please CONTACT us on 0114 230 8401 or email