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Innovate UK Innovation Loans Future Economy: Round 13

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Project Size:
£25 million


  • Must demonstrate a need for public funding, ability to cover interest payments, and capacity to repay the loan.

Project Size

  • Loans range between £100,000 and £2 million.

Accessibility and Inclusion

  • Open to all, with encouragement for applications from under-represented communities and regions.
  • Support available for those with disabilities or long-term conditions.

Proposal Requirements

  • Clearly expressed and compelling innovative idea.
  • Robust business plan with market potential evidence.
  • Skilled team to successfully complete the project.
  • Awareness and management plans for risks.
  • Practical financial plans with good value for money and repayment ability.
  • Justification for funding necessity.
  • Clear plan for significant economic impact and ROI post-project.

Project Activities

  • Can include prototyping, demonstrating, piloting, testing, validation in real-life conditions.

Evaluation Criteria

  • Quality of the project proposal and suitability of the business to take on a loan.

Portfolio Approach

  • Aiming for a variety of projects across different technologies and markets, particularly those aligning with future economy areas in the Innovate UK plan.

Specific Themes

  • Projects should focus on areas like Net Zero (energy, industrial processes, emissions), Health and Wellbeing (tackling ill health, enhancing wellbeing, diet), and Next Generation Digital Technologies.

Research Categories

  • Only funding experimental development projects.


  • Not providing grant funding.
  • Won't fund commercial activities like marketing and sales.
  • Can't fund projects dependent on export performance or domestic inputs usage.

Contact Information

  • Innovate UK can be contacted for guidance via email or at 0300 321 4357.

Key Takeaways

  • This is an opportunity for SMEs with late-stage innovative R&D projects that have strong commercial potential and can significantly improve the UK economy.
  • The loan aims to help businesses overcome barriers to commercialisation.
  • Applications should be well-prepared, demonstrating the innovation, business plan, team capability, risk management, financial planning, and potential economic impact.

Funding Body

  • Innovate UK, part of UK Research and Innovation.

Funding Type

  • Loan


  • To provide loans to UK registered micro, small, and medium-sized enterprises (SMEs) for late-stage R&D projects with significant potential for commercialisation and economic impact.

Project Scope

  • Projects must lead to innovative new products, processes, services, or business models significantly ahead of the current market.
  • Must focus on one or more future economy areas included in the Innovate UK plan for action.

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