Financial Support from Innovate UK
Fast Start: Innovation Grants
These grants offer small and micro businesses a share of up to £30 million in grants alongside tailored business support delivered by Innovate UK EDGE. Businesses can apply for up to £50,000 for highly innovative ideas that have a clear route to commercialisation through business growth.
In order to qualify, the proposed project must lead to 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, and must focus on either achieving net zero and reducing environmental impact, or on self-driven, de-centralised healthcare and mental well being.
In the grant application, applicants must be able to show that they:
- Have a great idea.
- Need public funding.
- Have the capability to deliver the project.
- Will deliver the project.
They are particularly interested in proposals which will help you:
- Develop both your idea and your business.
- Create a new revenue stream.
- Evidence and enable your market, funding and commercialisation plans.
- Show what’s feasible, helping you decide whether to pursue your idea further.
- Catalyse further innovation on your path to commercial success.
- Respond to changing market conditions.
More information: Competition overview – Fast Start: Innovation – Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)
Innovate UK Smart Grants
Up to £25 million is being invested through Innovate UK Smart Grants in game-changing, and world-leading ideas, designed for swift, successful commercialisation. Ideas need to be genuinely new and novel, not just disruptive within their sector.
Proposals must be business focused, with deliverable, realistic and adequately resourced plans to achieve a return on investment, growth and market share following project completion. The project must start by 1st January 2023 and finish by 31st December 2025, include at least one micro or SME business, and be carried out in the UK.
Applications can come from any area of technology and be applied to any part of the economy such as, but not exclusively:
Further Information: Competition overview – Innovate UK Smart Grants: April 2022 – Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)