Innovate UK, GB: Smart grants

19/10/2023

17/01/2024

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.

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.

Project team To collaborate with the lead, your organisation must be one of the following UK registered: business of any size academic institution charity not for profit public sector organisation research and technology organisation (RTO) Each partner organisation must be invited into the Innovation Funding Service by the lead to collaborate on a project. Once partners have accepted the invitation, they will be asked to login or to create an account in the Innovation Funding Service. They are responsible for entering their own project costs and completing their Project Impact questions in the application. To be an eligible collaboration, the lead and at least one other organisation must apply for funding when entering their costs into the application.