In a new competition which opens today, Innovate UK will invest up to £19 million in highly innovative projects with the best game changing and/or disruptive ideas or concepts. This should be with a view to commercialisation and economic impact.
Projects should aim to lead to new products, processes or services (or novel use of existing ones) believed to be significantly ahead of anything similar available in the field. You can view Innovate UK videos and success stories to help in your application.
Proposals can come from any technology (including arts, design, media or creative industries) and any part of the economy.
Projects must focus on commercialisation, growth or scale up as soon as possible following completion. Priority is given to proposals likely to lead to growth, gains in productivity and/or access to new overseas markets through export.
To be in scope, a proposal must demonstrate:
- a clear game-changing and/or disruptive innovative idea
- that your idea can lead to novel new products, processes or services that are significantly ahead of others in the field
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face with realistic management, mitigation and impact minimisation plans for each
- sound, practical financial plans and timelines that represent good value for money
- a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible following project completion
Innovate UK is looking to fund a portfolio of projects, across a variety of technologies, markets and technological maturities. These can be feasibility studies (which may include market research), industrial research projects or experimental development projects.
Funding type
Grant
Project size
Your project’s total costs should be between £25,000 and £1 million depending on the type of research and development (R&D) to be undertaken. Project duration should be a minimum of six months, and a maximum of three years.