This competition is open to UK-registered micro, small or medium-sized enterprises (SMEs). Businesses applying must have a clear route to commercialisation and be able to demonstrate that they require public funding, can cover interest payments and will be able to repay the loan on time.
Eligibility: This competition is open to UK-registered micro, small or medium-sized enterprises (SMEs). Businesses applying must have a clear route to commercialisation and be able to demonstrate that they require public funding, can cover interest payments and will be able to repay the loan on time.
Fuelling Late-stage R&D Projects:
Innovation loans are aimed at late-stage R&D projects. Projects should focus on creating innovative products, processes, services, or utilising existing ones in innovative ways. They can also involve a novel business model.
Your project must focus on one or more of the future economy areas included in the Innovate UK plan for action.
Funding: Innovate UK will offer loans of between £100,000 and £2 million. The loans will be favourable, with a below-market rate of interest. The duration of the projects can be up to 5 years, with projects expected to start by 31 March 2024.
How to apply: Applications must be submitted via the Innovate UK application portal by the deadline. All entries will undergo a competitive selection process, with only the highest-quality applications receiving funding.
Please note that only one application per business is allowed for each round of this competition.
Specific Themes:
Your project should align with one or more of the following key themes:
This includes sub-themes such as energy, impact of industrial processes, tackling ill health, diet and food, advanced materials and manufacturing, artificial intelligence digital and advanced computing, robotics, and more.
Important Dates:
Empower Your Innovation Journey
Are you ready to transform your inventive projects into commercial success? Connect with us at Inventya on 01925 506 100 or drop us a line at info@inventya.com. We're eager to support you on your path to significant economic impact with the Innovate UK Innovation Loans.
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