Opens: 9 January 2024
Closes: 27 February 2024
Innovate UK, as part of UK Research and Innovation, has selected a pool of investor partners.
These investor partners have demonstrated that they have the credibility, capability, capacity and appetite to invest in innovative, technology-led businesses that align with our programmes.
These programmes will focus on the future economy as described in our plan for action.
The future economy investor partnership programme brings together:
Innovate UK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses; investor partners’ aligned funding and expertise in identifying opportunities and teams that can best use extra investment finance
This approach aims to provide you with support for research and development and access to the capital investment you need to develop and commercialise your innovations.
Innovate UK provides support for your investment readiness and for engaging with suitable investors via Innovate UK EDGE and Innovate UK KTN. In the first instance you should contact Innovate UK EDGE for support in understanding your readiness for investment and also to look at your wider strategy for growth.
You should also contact Innovate UK KTN to establish if there are specific programmes for connecting businesses in your sector to relevant investors. Support and connections to sector specific investors may also be provided by the relevant Catapults.
You will need to establish a relationship and a level of investment traction with one of our approved investor partners before you apply for funding. A full list of selected investor partners is provided at Innovate UK Investor Partners – UKRI and Innovate UK KTN investor partnerships websites.
The investor partner must have confirmed with you that you are in a position to apply for grant funding as you will be asked to identify them in the application.
To be successful, your project must be independently assessed by Innovate UK as fundable and receive aligned investment directly, led or catalysed by the investor partner identified in your application
The funding available will be allocated across a series of competitions with the next round opening on 28th February 2024.
In applying to this competition, you are entering into a competitive process. The competition closes at 11am UK time on the deadline stated.
Your project’s total costs will depend on your research category and must be between £50,000 and £300,000 for feasibility studies, £100,000 and £1 million for industrial research, £250,000 and £2 million for experimental development.
The eligibility criteria will depend on your research category.
For feasibility studies projects:
For industrial research projects:
For experimental development projects:
Projects must always start on the first of the month and this must be stated within your application. Your project start date will be reflected in your grant offer letter if you are successful.
You must only include eligible project costs in your application.
Under current restrictions, this competition will not fund any procurement, commercial, business development or supply chain activity with any Russian or Belarusian entity as lead, partner or subcontractor. This includes any goods or services originating from a Russian or Belarusian source.
If you have not provided information on the investor partner who is leading on your investment or we are unable to confirm the investment position with that investor partner, then your application will not be eligible. Your application will then not be sent for assessment.
To apply your organisation must: