An EU funding programme is offering €550 million (£495m) for projects including the development of smart cities and green vehicles.

It is part of Horizon 2020, the largest European funding programme for research and innovation.

Smart cities projects seeking a share of the fund should demonstrate solutions at district-scale integrating smart homes, buildings, grids, charging infrastructures for electric vehicles as well as energy storage.

Around €133 million (£119.7m) will be shared between projects that work on integration of electric vehicles with the grid, aerodynamics and powertrain development.

Other sectors which will receive a share of the fund include sustainable food security, rural innovation and business, marine projects and bioeconomy.

The UK Government said businesses and universities should continue bidding for EU funding while the nation is a member of the EU and it will underwrite payment of awards even when projects continue beyond UK membership.

Researchers and businesses that would like to apply for a share of the fund can do so until February 2017.