Young Innovators Awards 2022 to 2023

Fund Details

As an award holder you will receive:

1. Tailored business support including but not limited to:

Media and communications, for example:

• branding
• business planning strategy
• confidence
• growing your networks

Funding and finance options, for example:

• introductions to investors and pitch training
• financial planning

2. A grant of £5,000 to cover eligible project costs, for example:

• travel to meet customers and partners
• attending relevant training courses
• equipment
• hiring office space and IT support

3. A contribution for living expenses equivalent to £165 per week.

If successful, the funding will be paid in four increments called claim periods.

You will need to provide evidence to your monitoring officer to show how your grant was spent over each claim period before your next claim can be submitted.

In total, every young innovator will get £5000 plus a contribution to living allowances of £8,619, making a total of £13,618.99.

This will be divided over four claim periods:

• December 2022 (upfront) – £3654.74
• March 2023 – £3404.75
• June 2023 – £3404.75
• September 2023 – £3154.75

Eligibility

To be eligible for an award you must:

• be a UK resident who has the right to work in the UK, or will have the right to work in the UK for the duration of the award
• be aged from 18 to 30 on the date of competition closing
• not have previously received a Young Innovators Award from Innovate UK

You must be able to commit to:

• working on average for 2 days (15 hours) per week on your Young Innovators Award, including some weekday time to meet with your Innovation Champion
• attend 3 virtual bootcamps, each lasting 1 day on 15 November 2022, 15 March and 15 June 2023
• attend a further 1 day, in person or hybrid access, event with all Young Innovators on 14 September 2023
• provide at least 4 days over the duration of the award to be a role model for the Young Innovators Programme

Talk to us today if you would like to apply for this opportunity.