Innovations loans: September 2019 open competition

Fund Name: Innovations loans: September 2019 open competition
Project Length: Up to 5 years
Project Value: Loans between £100k and £1m
Deadline: 27/11/2019

Summary

The purpose of this competition is to help businesses overcome barriers to their cutting-edge innovations becoming a successful, commercial reality. The aim is to make a considerable economic impact and/or result in significant, sustainable business growth.

Fund Details

Your idea must lead to innovative products, processes or services that are significantly ahead of others in the field. Your project can include prototyping, demonstrating, piloting, testing and validation in environments that represent real-life operating conditions.

Your proposal must demonstrate:

  • a clear game-changing and/or disruptive innovative idea
  • a strong and deliverable business plan that addresses (and documents) market potential and needs
  • 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, with realistic management, mitigation and impact minimisation plans for each
  • sound, practical financial plans and timelines that represent good value for money
  • 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

Loans of between £100,000 and £1 million are available to fund your project’s eligible costs.

Projects must last up to 5 years and are expected to start by May 2020.

An interest rate of 3.7% per annum after 3 years

Eligibility

To take on an innovation loan for a project you must:

  • be a UK registered SME
  • carry out your project in the UK
  • intend to exploit the results from or in the UK
  • give evidence that your business is suitable to take on a loan
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.

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