PRISM is a programme of research and innovation funding to support innovation in the UK Steel and Metals sectors in:
- Digital technologies
- Circular economy
The programme was announced by the UK finance minister in the March 2020 budget and is being delivered by the Materials Processing Institute. The funding was provided through Innovate UK, part of UK Research and Innovation. The programme is funding the following activity at the Materials Processing Institute:
100% grant funded
Developing the technologies of tomorrow, these projects are aimed at accelerating the commercialisation of widely applicable technologies for the sector.
50% grant funded
Multi partner projects, involving collaboration partners across the sector and supply chain, to deliver new technology solutions that will enhance the competitiveness of UK industry.
25% grant funded
Specific, targeted projects for individual companies, or small consortia, that improve productivity, develop new products, or apply new technologies, to meet the aims of the programme.