Eligibility:

• Open to micro, small, and medium-sized enterprises (SMEs) and their partners.
• Projects must focus on innovative products, services, or  processes that are significantly different from what is currently available globally.
• Proposals should have a strong focus on swift commercialisation and demonstrate a clear path to market, with plans for delivering significant economic impact in the UK.

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Project focus:

Eligible projects must:

• Develop ground-breaking innovations that can impact productivity and competitiveness.
• Demonstrate clear market demand, and potential for rapid commercialisation after project completion.
• Ensure that user and customer needs are central to the project’s design and delivery.

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Key evaluation criteria:

• Innovation potential: Proposals must showcase unique, disruptive ideas not currently available on the market.
• Commercial viability: A robust business plan must outline how the innovation will drive economic return, growth, and market share.
• Team expertise: The project team must have the necessary skills to deliver successfully and on time.
• Risk management: Clear plans for managing project risks and ensuring effective delivery are required.

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Project size:

• Projects of 6 to 18 months: Total costs between £100,000  and £500,000 (single or collaborative).
• Projects of 19 to 24 months: Total costs between £100,000  and £1 million (must be collaborative).

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Restrictions:

• Projects that focus on commercialisation activities such as marketing or sales will not be funded.
• Innovate UK will not fund projects where the technology is already available or where the scope of innovation does not promise significant economic impact.

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CTA: Have agroundbreaking innovation ready for rapid commercialisation? Contact Inventyato receive expert guidance and increase your chances of securing this valuablefunding!

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