Future Economy Investor Partnerships SME

Fund details

The aim of this competition is to provide you with support for research and development and access to the capital investment you need to develop and commercialise your innovations.

Your proposal must have a clear route to market, a clear link to innovation and evidence that you can create a team to deliver your proposal.

You must be:

• registered in the UK as an SME by the time the award is contracted
• able to raise the aligned finance needed to draw down the award, through the issue of new shares or convertible debt

You must also demonstrate that if your project is funded, it will:

• have a significant market impact
• be scalable
• be attractive to other equity investors

Most of the funding for this programme has now been fully committed. The only specific themes with remaining funding available are:

Health and wellbeing 

• advancing life-changing cancer therapeutics, focused on immunotherapies and paediatric oncology (Cancer Therapeutics)
• the application of extended reality for digital mental health, including immersive content that could be delivered as a digital mental health therapeutic in formal healthcare settings (Mindset)

Next generation digital technologies

• projects within the creative industries which are underpinned by innovative digital technology as well as sustainable innovations, such as circular fashion (Creative Catalyst)

Eligibility

The eligibility criteria will depend on your research category.

For feasibility studies projects:

• your total project costs must be between £50,000 and £300,000
• the project duration must be between 6 and 12 months

For industrial research projects:

• your total project costs must be between £100,000 and £1 million
• the project duration must be between 6 and 15 months

For experimental development projects:

• your total project costs must be between £250,000 and £2 million
• the project duration must be between 12 and 15 months

How to apply 

• Contact prospective investors on Innovate UK’s list
• The investor partner must have the intent to invest before you commence the grant application – Granted can help you identify which investor to approach
• Work with the investor to complete an Expression of Interest
• The investor submits the EOI and will typically get a response within two weeks
• Once Innovate UK confirms eligibility to the investor, the investor gives the go-ahead to complete the application via the Innovate UK IFS portal