New funding for SMEs to receive training on AI technology
As part of a new pilot, the government have made millions available in funding for SMEs to pay for skills-based training in AI technology.
The Department for Science, Innovation and Technology (DSIT) has announced a new funded pilot scheme to help small and medium-sized enterprises pay for AI-related skills training.
The government has made £6.4 million of grant funding available.
The pilot aims to encourage more businesses to adopt AI technology by empowering them with employer-led training.
Funding is available for the 2024-2025 financial year and can only be used for AI skills training, not for the purchase of new AI technology.
Eligibility and applications
To be eligible, your firm must:
- be registered and operate in the UK
- employ between 1-249 employees in the UK
- be defined as an SME per the SME Action Plan
- have been operating for at least one year
- be able to match-fund 50% of the cost of the training
- operate in the Professional and Business Services sector (PBS) as defined by the Standard Industrial Classification (SIC) codes
At this stage, firms can express an interest in receiving funding through the government’s Find a Grant site. This way, you can keep up-to-date with the funding pilot.
The formal application window will open on 1 May 2024, and will close on 31 May 2024.