A £19m grant funding pot is available for innovative projects in any technology and industry sector. Priority will be given to proposals that are likely to lead to sustainable gains in productivity and/or access to new overseas markets through export led business growth.
The good news is that Innovate UK grant funding is non-repayable, and they do not take any equity, IP or commercial rights over your project. The bad news is that Innovate UK grants are highly competitive which is not surprising as this in effect is ‘free’ cash.
- Funding is available for testing the feasibility of your idea (including proof of market), research and developing it or demonstrating it in a prototype.
- Project value: £25k to £1m depending on type of R&D undertaken.
- Project duration: 6 to 36 months.
- Micro/small business receive up to 70% of project costs, Medium up to 60% and Large businesses receive up to 50% dependant on stage of research/development.
- Application deadline is 12pm on the 28th of February 2018.
Visit the funding competition website here.