An Imperial College London spinout has won the UK government’s £1m Manchester Prize.
Polaron, an AI-driven innovation that speeds up the development of materials used in wind turbines and electric vehicle batteries, will use the funding from the prize to further develop its AI solution.
The government says that its technology could be game-changing for its Plan for Change to get Britain building, deliver economic growth and accelerate net zero through British innovation.
The firm’s AI solution uses microstructural images – the microscopic features of a material visible under a microscope – to rapidly analyse and predict how materials will perform.
“Polaron exemplifies the promise of AI and shows how, through our Plan for Change, we are putting AI innovation at the forefront,” said Secretary of State Peter Kyle.
“AI could generate £400bn to our economy over the next five years, supporting trailblazing companies like Polaron is essential to achieving that vision.
“Technologies like these will help us meet our net zero targets while creating new jobs and opportunities for working people. Our commitment is clear – we are fully embracing AI to drive growth, improve public services and position the UK as a global leader in AI innovation.”
The Manchester Prize rewards innovative AI solutions addressing major societal challenges, with the first round focused on energy, environment, and infrastructure.
Nearly 300 teams from across the UK competed in its first year, with ten finalists each receiving £100,000 and support to further develop their innovations.
Business Secretary Jonathan Reynolds added: “Our Plan for Change will deliver economic growth, and for that to succeed we need to support companies such as Polaron across the UK in delivering the cutting-edge materials of the future, supported by our Industrial Strategy.
“This government is determined to embrace each and every opportunity of new technologies like AI, which will not only help British companies develop products we can use at home but also open up access for them to export them overseas.”
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