11.06.24 Market Intel

What the UK election means for innovation grants

The upcoming UK election, scheduled for 4th July, will have implications for government-funded grants. Here’s what you need to know.

  1. New grant competitions may be postponed until after the election
  2. Ongoing competitions (such as Innovate UK’s current round of Smart Grants) will remain open
  3. There’s still funding available – find out what you might be eligible for

Pre-election period (previously “purdah”)

In the run-up to the election, the UK government enters a period known as the pre-election period (previously “purdah”). During this time, the government restricts its activity to prevent the inappropriate use of official resources. As a result, competitions that UK Research and Innovation (UKRI) and its research councils, such as Innovate UK, had planned to launch in the next few months, may be postponed until after the election.

Granted Director, Will Granger, advises, “For companies looking for funding during this pre-election period, and the immediate time after, exploring funding programmes with multi-year set budgets and European competitions would be the best strategy. Whatever the approach, developing a robust grant funding strategy now will set you up to take advantage of the times ahead. We’ll work with our clients to identify future development projects and collaboration opportunities, so they are grant-ready for when new funds arise.”

As usual, our grant professionals are scanning the landscape to stay informed of any new funding opportunities or updates on the UK grant funding landscape. Make sure to subscribe to our newsletter to get the latest funding news delivered to your inbox.

Existing competitions will stay live

Fortunately, ongoing innovation grant competitions, such as the April 2024 round of Innovate UK’s Smart scheme (which offers up to £1m in grant funding for game-changing innovative SMEs) will remain open. These competitions were committed before the pre-election period and are not considered interference with the democratic process.

Head to our Funding Opportunities page for funds announced before the pre-election period began.

Find out what funds you’re eligible for

Granted Director, Jon Williams, explains, “Whilst there will be a short dip in the availability of new UK Government funds during the pre-election period, there continues to be a wide variety of research & development grants currently available including pre-existing competitions, European funds and non-governmental options.

Looking back at what’s happened around prior UK elections, we’re anticipating that there will be a surge in new funding opportunities once the new administration has bedded in. It’ll be important for innovators to have their projects “shovel-ready” and to keep their ear close to the ground as new funds are set up and launched in order not to miss out.”

To find out what grant funding you’re eligible for or how to get your innovation project ready for when new government funds are announced post-election, please get in touch.

Our grant professionals will happily guide you through the dynamic non-dilutive funding landscape, providing consultative strategy to identify, align and maximise suitable opportunities.


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