Innovate UK Innovation Loans: Future Economy

Innovate UK is offering up to £25 million in innovation loans to support UK-registered micro, small, and medium-sized enterprises (SMEs) in delivering late-stage research and development (R&D) projects with strong commercial potential. These loans are aimed at innovative businesses that are developing new products, processes, or services that are significantly ahead of current market offerings, or that propose novel uses for existing technologies.

The competition supports projects that have a clear path to commercialisation and the potential to deliver a positive economic impact in the UK. It aligns with the Innovate UK Plan for Action, focusing on "future economy" areas that promote sustainable growth and competitiveness. This funding opportunity is designed for forward-thinking SMEs who are ready to take their innovations to market but need flexible, affordable funding to do so.

Funding Details

• Total Loan Fund Available: Up to £25 million
• Individual Loan Amounts: Between £100,000 and £5 million
• Project Duration: Up to 5 years, including R&D and commercialisation phases

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