Innovate UK Innovation Loans Future Economy Round 17

Fund Details

Your project must lead to innovative 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.

Your proposal must demonstrate:

• a clearly expressed and compelling innovative idea
• a robust and deliverable business plan that addresses and shows evidence of market potential and needs
• a team with the necessary skills and experience to run and complete the project successfully and on time, and take the outputs forward
• awareness of all the main risks the project and business will face, with realistic plans to manage, mitigate and minimise the impact of each of these
• sound, practical financial plans and timelines that represent good value for money and ability to repay the loan
• why you are unable to fund the project from your own resources or other forms of public or private sector funding
• a clear, evidence-based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion

Specific themes

Your project must focus on one or more of the following themes or sub-themes:

• Net Zero
• Health and wellbeing
• Next generation digital technologies
• Technology families

Eligibility

To receive an innovation loan for a new project you must:

• be a UK registered micro, small or medium-sized enterprise (SME)
• carry out your project from or in the UK
• intend to exploit the results from or in the UK
• give evidence that your business is suitable to take on a loan

You must be able to show that you:

• need public funding
• can cover interest payments
• will be able to repay the loan on time