The Technology Strategy Board is the UK's innovation agency that aims to accelerate economic growth through business-led innovation. One of their programs is a Vessel Efficiency Competition that will provide up to £8 million in funding to encourage innovation and technology to improve vessel efficiency in areas like weight optimization, green propulsion systems, and vessel design. The competition opens on January 14, 2013 with a briefing event on January 22 and applications due on February 27 and May 1.