Building the sector's capacity to innovate
The Innovation Fund has been established to help the England and Wales water sector grow its capacity to innovate and meet the needs of customers, society and the environment, such as those set out in the five strategic innovation themes.
The Innovation Fund aims to achieve this by supporting ambitious water company initiatives that demonstrate bold new approaches to innovation. Through the innovation competitions, it will support initiatives going beyond the sector’s business-as-usual innovation practices that can create significant value for customers, society and the environment.
We have identified some innovation enablers that we believe are, and will continue to be, critical to growing our sector’s capacity to innovate. Across the competitions, the Fund will support initiatives that demonstrate and strengthen these enablers, including:
- Collaboration: Building and strengthening collaboration and partnerships across companies, the supply chain and beyond.
- Openness: To sharing data, insights and ideas within the water sector and with other sectors.
- Adaptability: Flexibility and openness to exploring new ways of working.
- Innovation Risk Management: including through greater use of experimentation.
- Scalability and Deployability: Improving the ease of scaling proven innovations within the sector.
- Long-term View: Taking both a longer-term and broader perspective on value creation.