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Innovate UK innovation loans future economy: round 11

General & Misc
Project Size:
between £100,000 and £2 m
  • Eligibility: UK registered businesses.
  • Objective: To fund innovative projects with robust commercial potential to significantly uplift the UK economy.

Key Dates:

  • Opening: Thursday, 14 September 2023
  • Closing: Wednesday, 8 November 2023 at 11:00am


Loans are offered to assist businesses in surpassing hurdles to the commercial success of their innovations. The target is to yield substantial economic impact, fostering substantial, sustainable business growth.

Proposal Criteria:

Your idea must:

  1. Present innovative products, processes, services, or business models significantly ahead of current standards.
  1. Display a captivating innovative idea.
  1. Exhibit a feasible business plan highlighting market potential.
  1. Showcase a team equipped with the skills and experience for successful project completion.
  1. Outline risks and management strategies.
  1. Illustrate financial plans ensuring value for money and capability to repay the loan.
  1. Highlight why self-funding or other funding means aren't viable.
  1. Demonstrate a plan for significant economic impact post-project.

Project Activities:

May involve:

  • Prototyping.
  • Demonstrating.
  • Piloting.
  • Testing.
  • Validating.

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.

Portfolio Approach:

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.

Specific Themes:

Your project should concentrate on one or more themes/sub-themes:

  • Net Zero:
  • Energy.
  • 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.

Research Categories:

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.

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