Innovate UK Smart Grants Sep 2023

To be in scope your proposal must demonstrate:

a ground-breaking and innovative idea for brand-new products, processes or services
an idea that is significantly different from already available products, processes or services globally
an idea that is set for rapid commercialisation following project completion
clear potential to positively impact the UK’s position, productivity and competitiveness within the global economy
a clear, evidence-based business plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
why Smart funding is the right potential funding for your project, and the journey you have already been on to reach the point of application
a team with the necessary skills and expertise to deliver the project successfully and on time, and to achieve rapid commercialisation
awareness of all the main risks the project will face with realistic management, mitigation and impact minimisation plans for each risk
sound, practical financial plans and timelines that represent good value for money, including the funding of post-project activities

taking customer and user needs into account to deliver more desirable and useful solutions
identifying who is ready to buy your innovation
being developed, planned and resourced beyond the end of the Innovate UK-funded project, taking into account the focus of any project partners and their existing commitments
fitting in with and complementing your ongoing business planning and development, product offerings and organisational structure to maximise chances of success

Innovate UK will NOT fund projects:

that do not meet the competition scope or eligibility criteria
where the technology is already available
that do not address the size, potential and access to the market for their innovation
that do not evidence the potential for their idea to lead to significant return on investment (ROI), positive economic impact, growth and scale-up of the business
that do not provide clear and realistic plans to commercialise their innovation as soon as possible post-project completion
where other Innovate UK funding support is available and more appropriate

Your project must:

start by 1 July 2024
end by 30 June 2027
include at least one micro, small or medium enterprise (SME) as the lead or a collaborative grant-claiming partner
follow specific rules depending on its duration
carry out all of its project work in the UK
intend to exploit the results from or in the UK

If your project’s duration is 6 to 18 months, it must:

If your project’s duration is 19 to 36 months, it must:

To lead a project or work alone your organisation must:

be a UK-registered SME if you want to work alone
be a UK-registered business of any size, or a research and technology organisation (RTO) if your proposal is collaborative
include at least one grant claiming SME if you are a large business or RTO and wish to collaborate with other UK-registered businesses, research organisations, academic organisations, public sector organisations or charities
claim grant funding

To collaborate with the lead, your organisation must be one of the following UK-registered:

Funding

For feasibility studies and industrial research projects, you could get funding for your eligible project costs of:

For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:

Fund Name