Innovate UK: Smart grants

18/01/2024

24/04/2024

UK registered organisations can apply for a share of up to £25 million for game-changing and commercially viable R&D innovations that can significantly impact the UK economy. This funding is from Innovate UK, part of UK Research and Innovation. The Innovate UK Smart grant supports SMEs and their partners develop the best game changing and world-leading innovative R&D projects. It offers funding where other opportunities are not available or appropriate, and where timing is key to ensure swift and successful commercialisation post-project completion. Award amount max £2,000,000 Award amount min £100,000 Amount note Up to £25 million has been allocated to fund innovation projects in this competition. Funding will be in the form of a grant. Projects of 6 to 18 months must have total eligible project costs between £100,000 and £500,000 and can be single or collaborative. Projects of 19 to 36 months must have total eligible project costs between £100,000 and £2 million and be collaborative. (Forecasted date for next call).

Any. 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.

Lead organisation 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 More information on the different types of organisation can be found in the Funding rules.