Innovate UK is offering up to £25 million in loans to micro, small and medium sized enterprises (SMEs). Loans are for highly innovative late stage research and development (R&D) projects with the best potential for the future. There should be a clear route to commercialisation and economic impact.
Your project must lead to innovative new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.
Your project must focus on one or more of the future economy areas included in the Innovate UK plan for action.
You must be able to show that you:
The funding available will be allocated across a series of competitions with the next round opening on the day the previous round closes:
In applying to this competition, you are entering into a competitive process.
This competition closes at 11am UK time on the deadline stated.
This competition offers loans to help businesses overcome barriers to their innovations becoming a successful, commercial reality. The aim is to make a considerable economic impact which results in significant, sustainable business growth.
Innovate UK is looking for businesses who can demonstrate that their projects have the best potential for the future.
Your idea must lead to innovative new products, processes or services that are significantly ahead of others currently available or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.
Your proposal must demonstrate:
Your project can include:
These can be in environments that represent real life operating conditions.
We are also particularly interested in receiving applications from diverse businesses; those involving communities that are typically under-represented, including from regions outside the ‘Golden Triangle’ (London, Oxford and Cambridge) or with for example, female, ethnic minority and diverse ability founders.
Your application will be evaluated on:
We will decline applications for loans for businesses which:
We want to fund a variety of projects across different technologies and markets, with a particular focus on future economy areas set out in the Innovate UK plan for action. We call this a portfolio approach.
Your project must focus on one or more of the following themes or sub-themes:
Health and Wellbeing
Next generation digital technologies
We will only fund experimental development projects, as defined in the guidance on categories of research.
In this competition we are not providing grant funding.
We will not provide funds to match the grant funding of any projects.
We will not fund commercial activities such as marketing and sales.
We cannot fund projects that are: