Your idea must:
- Present innovative products, processes, services, or business models significantly ahead of current standards.
- Display a captivating innovative idea.
- Exhibit a feasible business plan highlighting market potential.
- Showcase a team equipped with the skills and experience for successful project completion.
- Outline risks and management strategies.
- Illustrate financial plans ensuring value for money and capability to repay the loan.
- Highlight why self-funding or other funding means aren't viable.
- Demonstrate a plan for significant economic impact post-project.
Note: Priority is given to applications from diverse businesses or those representing under-represented communities.
Evaluation will be based on:
- Project proposal quality.
- Business's suitability for a loan.
Loans will be declined for businesses that:
- Can't manage interest and repayments.
- Haven't shown inability to secure other financing means.
The aim is to support various projects across multiple technologies and markets. Special emphasis on future economy areas highlighted in the Innovate UK action plan.
Your project should concentrate on one or more themes/sub-themes:
- Net Zero:
- Industrial processes & material use.
- Agriculture, food, & other emissions.
- Capital intensity.
- Health & Wellbeing:
- Addressing illness.
- Enhancing wellness.
- Diet & food.
- Next-Generation Digital Technologies:
- Technology families, including AI, advanced computing, bioinformatics, robotics, etc.
Only experimental development projects will be funded.
- This competition doesn't offer grant funding.
- Won't match the grant funding for projects.
- Commercial activities like sales and marketing won't be funded.
- Projects dependent on export performance or domestic inputs usage won't be funded.