Opportunity to apply for funding to deliver ambitious or disruptive R&D innovations that can make a significant impact on the UK economy.
- Competition opens: 26 August 2021
- Competition closes: 06 October 2021, 11am
- Applicants notified: 17 December 2021
- Project start date: 01 April 2022
Proposals must demonstrate:
- a clear game-changing, innovative and/or disruptive and ambitious idea leading to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a clear, evidence-based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- sound, practical financial plans and timelines
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
- clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
- good value for money, which will always be a consideration in Innovate UK funding decisions
- Preference is given to applications that demonstrate realistic, significant potential for global markets.
- Proposals from innovation-based businesses with significant ambition and potential for growth or scale-up are welcome.
- Where possible, projects should take customer and user needs into account to deliver more desirable and useful solutions.
Projects that will not be funded
- That do not meet the competition eligibility or scope
- That do not address the size, potential and access to market for the innovation
- That do not evidence the potential for their idea or concept to lead to significant return on investment (ROI), positive economic impact, growth and scale-up of the business
- Subsidy Control funding rules apply.
- Must include at least one SME.
- R&D work must be carried out in the UK and project results exploited from UK.
- Projects with durations between 6 and 18 months must have total eligible project costs between £25,000 and £500,000. They can be single or collaborative projects.
- Project durations between 19 months and 36 months must have total eligible project costs between £25,000 and £2 million. They must be collaborative projects.
Funding levels of up to 70% are available depending on the stage of development and size of company with match funding required.
Research organisations collaborating as part of your consortium can share up to 30% of the UK total eligible project costs. (This maximum is to be shared between all participating research organisations).