The extra funding is for companies who want to use public open data to commercialise their ideas and develop products and prototypes.
When the £2 million fund was created in September it provided £5,000 for a UK start-up, micro, small or medium-sized business to work with external experts and gain knowledge to help their business.
The scheme, which was launched by the Business for Innovation and Skills (BIS) department has said their aim is simple: "To accelerate economic growth by stimulating and supporting business-led innovation."
The scheme is already open to businesses that want to develop ideas relating to the Agri-food, Built Environment, Space industries, Energy, Water and Waste sectors, with a hundred vouchers allocated every three months.
The latest figures from round one show that over 200 projects were successful in the draw for Innovation Vouchers for Agri-Food, Built Environment and Space.
Making the announcement, universities and science minister David Willetts said: "This new wave of Innovation Vouchers will give SMEs a great opportunity to bid for funding that can make a real difference to the growth of their business ideas.
He added: "They will be able to develop exciting proposals that can make use of open data, which have the potential to unlock great value and boost economic growth."
Look out for a special feature on innovation in January 2013 on HRmagazine.co.uk
