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The Strategic Innovation Fund (SIF) will help shape the future of the gas and electricity networks through innovation. With funding from Ofgem through the price control mechanism, the SIF is expected to invest around £450 million in energy network innovation by 2026.

Ofgem and Innovate UK are working together on the SIF – seeking ambitious, innovative projects with the potential to benefit consumers and accelerate the transition to net zero. The objective is to help transform the UK into the ‘Silicon Valley’ of energy, making it the best place for high potential businesses to grow and scale in the energy market.

The first competition for SIF funding opens on 31 August 2021. At this launch briefing on 7 September you can find out more about the fund, its aims, and how it works.

While applications for this first phase must come though energy network operators, other innovative businesses are expected to play an important role as partners. Any company with potential innovative solutions for the energy networks will want to understand the opportunities that the SIF offers, now and in future.