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.
The loans will support innovations deemed to have the strongest potential to support future economic growth and tackle social challenges, across fields such as:
- net zero
- health and wellbeing
- next-generation digital technologies
As well as the ‘7 Technology Families’ of the Innovation Strategy - advanced materials and manufacturing; engineering biology; electronics; sensors; photonics and quantum; and robotics and smart machines.
Your 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.
We are particularly interested in projects that focus on the future economy areas included in the Innovate UK plan for action.
Round 1 competition closes at 11am on 13 April 2022.
For further information visit Competition overview - Innovation Loans Future Economy Competition – Round 1 - Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)