Innovate UK Smart Grants: October 2019
Fund Name: Innovate UK Smart Grants: October 2019
Project Length: 6-18 months or 19-36 months
Project Value: Up to £25m
Innovate UK, part of UK Research and Innovation, is investing up to £25 million in the best game-changing and commercially viable innovative or disruptive ideas. All proposals must be business-focused.
Your proposal 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
Your project must start by June 2020 and end no later than June 2023.
Your project must follow different rules depending on its duration:
- 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.
To lead a project you must:
- be a UK registered business of any size or a research and technology organisation (RTO)
- carry out your R&D project activity in the UK
- intend to commercially exploit the project results from or in the UK
- be an SME if you want to work alone
- include at least one SME if you are a large business or RTO and wish to collaborate with other businesses, research organisations, public sector organisations or charities
Get In Touch
If you think that you might be eligible for this fund, please Get In Touch by filling out the contact form below.Back to all funds