Key Project Requirements:

• Projects should lead to groundbreaking new products, processes, services, or business models.
• They must align with at least one of the future economy areas outlined in the Innovate UK action plan.
• Applicants must demonstrate a need for public funding, the ability to manage interest payments, and the capacity to repay the loan promptly.

Funding Type: Loan

Project Size: Loans ranging from £100,000 to £2 million.

Proposal Criteria:

• Proposals should present a compelling innovative idea with a solid business plan.
• They must show market potential, a skilled project team, and awareness of associated risks.
• Financial plans should indicate value for money and a plan for repaying the loan.
• Proposals must prove the inability to fund the project through other means.
• A clear plan for significant economic impact and ROI post-completion is essential.

Project Inclusions:

• Prototyping, demonstrating, piloting, testing, and validation in real-life conditions are supported.

• Applications from diverse businesses, including those outside the ‘Golden Triangle’ or with founders from underrepresented groups, are encouraged.

Evaluation Criteria:

• Quality of the project proposal.
• Business's suitability for a loan.

Exclusions:

• Businesses unable to manage loan repayments.
• Projects reliant on export performance or domestic inputs usage.
• Commercial activities like marketing and sales are not funded.

Portfolio Approach:

• A diverse range of projects across various technologies and markets, particularly those focusing on future economy areas, will be funded.

Specific Themes:

• Projects must focus on themes like Net Zero, Health and Wellbeing, or Next Generation Digital Technologies.

Research Categories:

• Only experimental development projects will be funded.

Exclusions:

• No grant funding or matching of grant funding.
• No support for projects dependent on export performance or domestic inputs usage.