Innovate UK Smart Grants – could your idea warrant a share of up to £25 million?

Dean Wright

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Dean Wright

Director
Business insightsBusiness startup

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 competition is now open for entries, closing Wednesday 26 April 2023 11:00am

Ideas need to be designed for swift, successful commercialisation and be genuinely new and novel, not just disruptive within their sector.

All proposals must be business-focused, with deliverable, realistic, adequately resourced plans to achieve return on investment, growth, and market share following project completion.

Applications can come from any area of technology and be applied to any part of the economy, such as, but not exclusively:

  • net-zero
  • the arts
  • design and media.

To be in scope, your proposal must demonstrate (amongst other things):

  • a game-changing, innovative, and disruptive idea that will lead to new products, processes or services
  • an idea that is significantly ahead of others in the field, set for rapid commercialisation
  • clear potential to positively impact the UK’s position, productivity, and competitiveness within the global economy.

For further details see: Competition overview – Innovate UK Smart grants: January 2023 – Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)

I am currently actively engaged in supporting new and growing enterprises located in the various innovation centres located across the region. Such work includes Research and Development (R&D) tax credits, Innovate UK and crowd-funding. So if I can help you to apply for one of these grants, please contact me, Dean Wright, at dwright@streetsweb.co.uk