Fund Information
| Funding body: | Innovate UK (IUK) |
| Maximum value: | £ See below |
| Application deadline: | 24/07/2019 |
Extended Description
The UK’s innovation agency, Innovate UK (IUK) works with people, companies and partner organisations to de-risk, enable and support innovation, and promote UK economic growth. IUK is part of UK Research and Innovation (UKRI) – a non-departmental public body, funded by a grant-in-aid from the UK government through the Department for Business, Energy & Industrial Strategy(BEIS).
Innovate UK Smart Grants provide an opportunity for businesses and research and technology organisations to apply for a grants to deliver ambitious or disruptive R&D innovations with significant potential for impact on the UK economy. Smart is the new name for Innovate UK’s ‘Open grant funding’ programme.
The competition provides funding for innovation research and development (R&D) from feasibility (including market research), through to technology or prototype testing and development stages up to (but not including) commercialisation.
All proposals must be business focused, rather than pure research. Applications can come from any area of technology (including arts, design, media or creative industries), science or engineering and be applied to any part of the economy.
IUK is looking to fund a portfolio of projects, across a variety of technologies, markets and technological maturities. Projects can focus on:
- feasibility studies, which may include market research;
- industrial research;
- experimental development, if appropriate for the challenge identified and proposed solution.
IUK gives preference to applications that demonstrate realistic, significant potential for global markets. Where possible, projects should take customer and user needs into account to deliver more desirable and useful solutions.
Eligibility Criteria
To lead a project, the applicant must be a UK-based business of any size or a research and technology organisation (RTO). The project must be carried out in the UK.
If collaborating with others, the application must include an SME. To work alone, the applicant must be anSME. An academic institution cannot lead on an application or work alone.
Proposals from innovation-based businesses with significant ambition and potential for growth or scale-up are welcomed.
Collaborators can be UK based businesses, academic organisations, charities, public sector organisations or RTOs.
Value Notes
IUK has allocated up to £25 million to fund a number of innovation projects in this competition. IUK may consider eligible project costs over £2 million (but not exceeding £3 million).
For projects with a duration of between 6 and 18 months, the total eligible project costs will be between £25,000 and £500,000 (single company or collaboration).
For those with a duration between 19 and 36 months, the total eligible project costs will be between £25,000 and £2 million (collaboration only).
Projects must start by 4 November 2019 and end no later than 4 November 2022.
Match Funding Restrictions
For feasibility studies and industrial research, applicants could get funding for eligible project costs of up to:
- 70% for a small business;
- 60% for a medium-sized business;
- 50% for a large business.
For experimental development projects which are nearer to market, applicants could get funding for eligible project costs of up to:
- 45% for a small business;
- 35% for a medium-sized business;
- 25% for a large business.
If participating as a business, the applicant must show that the match funding they are providing comes from entirely private sector sources, across all projects they are involved in. They must also be able to show how they will exploit the results of the project to grow the wider sector.
The knowledge providers orresearch organisationsin a consortium can share up to 30% of the total eligible project costs. If the consortium contains more than one research organisation, this maximum will be shared between them.
Application Procedure
Competition dates:
- Open: 26 April 2019
- Competition closing date: 24 July 2019 12:00pm
Applicants are encouraged to read the general guidance for applicants to help their chances of submitting a quality application.
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