Innovate UK: Innovation loans future economy competition

22/09/2022

09/11/2022

Innovate UK invites applications for its innovation loans future economy competition. This supports innovative late stage R&D development projects which have a clear route to commercialisation and economic impact. Projects that focus on the future economy areas included in the Innovate UK plan for action are particularly encouraged. The total budget is £25 million. Loans are worth between £100,000 and £2 million. Projects may last for up to five years, including the R&D and commercialisation phases.

Projects must focus on one or more of the following themes or sub-themes: •net zero – energy, impact of industrial processes and use of materials, agriculture and food and other sources of emissions, and capital intensity; •health and wellbeing – tackling ill health, enhancing wellbeing, and diet and food; •next generation digital technologies; •technology families – advanced materials and manufacturing, artificial intelligence, digital and advanced computing, bioinformatics and genomics, engineering biology, electronics, photonics and quantum technologies, energy and environment technologies, and robotics and smart machines.

Applicants must be a single UK registered micro, small or medium-sized enterprise. They must carry out the project from or in the UK and intend to exploit the results from or in the UK. Individuals, large companies, not for profits, charities, academic institutions, and research organisations are not eligible. Applications containing collaboration with other organisations will not receive funding. Businesses may only submit one application per round.