Investor Partnerships – Digital Technologies, North East: Rd 2

Innovate UK, as part of UK Research and Innovation, will collaborate with the North East Combined Authority to invest up to £1.7 million in innovation projects.

You must demonstrate that if your project is funded, it will:

• Have significant market impact
• Be scalable
• Be attractive to equity investors

The projects will be led by ambitious UK-registered micro, small, or medium-sized businesses (SMEs) who will use the funding to grow their innovation activities in the digital technology cluster in North East England, both during and after the project.

For this competition, North East England refers to the geography of the North East Combined Authority, which includes Northumberland, Tyne and Wear, and County Durham.

This can be demonstrated by:

• Your local innovation activities
• The value your innovation activities bring to the cluster
• Your engagement with other innovation-active organisations in the cluster, such as the Innovation SuperNetwork, the cluster management organisation for this Launchpad

Your project must focus on digital technologies that can be applied in growing and emerging markets.

Growing or emerging markets include, but are not limited to:

• Advanced manufacturing
• Agriculture and forestry
• Automotive and transportation
• Creative industries
• Culture, tourism, leisure, and sport
• Green industries
• Health
• Offshore industries
• Retail and town centres

You must be:

• Registered in the UK as an SME by the time the award is contracted
• Able to complete the aligned investment led by the investor partner needed to qualify for the award, through the issue of new shares or convertible debt

Eligibility Criteria

The eligibility criteria will depend on your research category.

For feasibility studies projects:

• Your total project costs must be between £50,000 and £300,000
• Your project duration must be between 6 and 12 months

For industrial research projects:

• Your total project costs must be between £100,000 and £1 million
• Your project duration must be between 6 and 12 months

For experimental development projects:

• Your total project costs must be between £250,000 and £2 million
• Your project duration must be between 12 and 18 months