Princess Yachts International along with 22 other companies and organisations from a range of sectors (including marine, automotive and aerospace), joined together to form The National Composites Centre Consortium led by GKN Aerospace for the “Composites Grand Challenge”.
 
The three-stage challenge was managed by the Technology Strategy Board on behalf of the Department for Business, Innovation and Skills (BIS), which funded the competition through the Strategic Investment Fund. Launched by the Business Secretary, Lord Mandelson, in November 2009 as part of the Government’s Composites Strategy, the competition saw UK companies receive initial funding for feasibility studies, with the best then invited to develop and test their concept before the £5m prize was awarded to the winning proposal.
 
Together with funding from the companies within the consortium, their winning proposal “Inspirational Composite Technologies,” will result in a £10m investment in advanced composites manufacturing in the UK.  The consortium now has a year to work on the Grand Challenge, demonstrate advances and begin to commercially exploit the development.