The JIP involves some of the biggest names in the floating and offshore wind industry, including developers Statoil, Ørsted, EnBW, Iberdrola, Vattenfall, Engie, E.on, Innogy and Wpd.
Also involved are oil and gas giant Shell and Japanese developer Kyuden Mirai.
The Carbon Trust believes there is "a notable gap in the market for suitable high-voltage dynamic cables for export purposes (130-250kV)" for floating wind projects.
The study, led by UK-based BPP Cables, will be run in conjunction with a competition to highlight suitable designs for cables that can cope in the floating wind environment.
Higher voltage cables are required to ensure enough power produced by projects is able to reach the shore.
The Carbon Trust hopes the study and competition will "accelerate the development of the technology to ensure that high voltage dynamic cables are available for the first commercial floating wind projects within the next five to ten years".
Elsewere, the JIP has also started work on a study to investigate floating wind monitoring and inspection needs.
US-based subsea engineering company Oceaneering will take a look at technolgies that can aid inspection regimes and reduce servicing costs for floating projects.
Windpower Monthly is holding a Floating Offshore Wind forum in London, 28-29 June. Find out more here.