Innovate UK is offering loans of between £100,000 and £2 million to help micro, small and medium-sized enterprises (SMEs) overcome barriers to their innovations becoming a successful, commercial reality.
The aim is to make a considerable economic impact which results in significant, sustainable business growth.
Loans are for highly innovative late stage research and development (R&D) projects with the best potential for the future. There should be a clear route to commercialisation and economic impact. This is round six of the funding scheme and the deadline for applications is November 9, 2022.
Projects must lead to new products, processes or services that are significantly ahead of others currently available or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.
It must also focus on one or more of the future economy areas included in the Innovate UK plan for action.
In addition, applicants must be able to show that they:
- Need public funding
- Can cover interest payments
- Will be able to repay the loan on time
For more information and to apply: Click here