Latest round of Innovate UK Smart Grants opens
14 December 2020
This is an opportunity for UK registered organisations to apply for a share of up to £25 million from Innovate UK to deliver disruptive R&D innovations that can significantly impact the UK economy.
Projects with durations between 6 and 18 months must have total eligible project costs between £25,000 and £500,000. Projects between 19 months and 36 months must have total eligible project costs between £25,000 and £2 million.
Projects should have:
- a clear game-changing, innovative, 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
- 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 either or both, the UK economy and productivity in a positive way
- sound, practical financial plans and timelines that represent good value for money, which will always be a consideration in Innovate UK funding decisions
Have an idea for a product or service that fits the bill?
You can apply using this link https://apply-for-innovation-funding.service.gov.uk/competition/762/overview