Future Economy Investor Partnerships SME: round 5
£50k - £2m
Innovate UK’s Future Economy Investor Partnerships competition unlocks £80 million of grant funding over the next three years across rolling deadlines, alongside even more equity investment from a growing list of their 50+ investor partners.
There are a few differences in what this round can support (and what it can’t) – read our blog post to find out what’s different and how to apply.
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:
You must also demonstrate that if your project is funded, it will:
Innovate UK is looking to support projects that focus on the future economy areas included in the Innovate UK plan for action. The broad theme areas are:
Innovate UK encourage innovation involving communities that are typically under-represented, including:
To support this, Innovate UK also has a targeted theme on equality, diversity and inclusion (EDI).
Innovate UK will not fund projects that are:
The eligibility criteria will depend on your research category.
For feasibility studies projects:
For industrial research projects:
For experimental development projects:
Round 6 will open on the 9th January 2024 and close on the 27th February 2024.
Round 7 will open on the 28th of February 2024 and close on the 23rd of April 2024.
You will only receive grant funding from Innovate UK if you also receive a minimum level of investment that has been led by your investor partner. The minimum level of investment will depend on the research level.
Innovate UK will decide which projects are eligible and in scope to receive grant funding. The decision will be based on the assessment of your application by independent assessors and on a review of your expected investment following a discussion with your proposed investor partner.
If you are successful, you will receive grant funding to cover a proportion of the costs of your project. The project will only be allowed to commence once the agreed-aligned investment has been confirmed.
Your business must have sufficient capital resources, including investment from the investor partner and the grant funding, to enable you to meet all your project’s eligible costs.
All recipients must act commercially, and your funding request must not exceed the limits specified.
For feasibility studies and industrial research projects, Innovate UK will fund:
The investment led by the investor partner must always be at least equal to the grant funding.
For experimental development projects, Innovate UK will fund:
The investment led by the investor partner must always be at least twice as much as the grant funding.Contact us