IPS supports the transfer of technology and expertise from STFC research to the marketplace. This scheme provides funding for a maximum of £450,000 (£150,000 per year) fEC for up to 3 years to take existing STFC research and expertise into a commercial environment. This includes technologies or ideas originating from the core STFC funded areas of nuclear physics, particle physics & particle astrophysics, astronomy & space science, and accelerators & computing in support of these.

As IPS is aimed at higher TRL levels, one of the requirements for IPS funding is that there is a linked project partner from industry or other non-academic institution(s) (for example, government departments, charities, NHS foundations etc.). This partner should provide either financial or in-kind contributions to the project, and have a vested interest in its outcomes. For projects at a lower TRL level, before the market has been identified, then please use Follow-on-funding instead of an IPS grant.