Opportunity to apply for a share of £20 million to deliver ambitious or disruptive R&D innovations with significant potential for impact on the UK economy.
This competition provides funding for innovation research and development from feasibility (including market research), through to technology or prototype testing and development stages up to (but not including) commercialisation.
Your proposal must demonstrate:
- a clear game-changing and/or disruptive innovative idea leading to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face (including contactor or equipment failure, recruitment delays and so on) with realistic management, mitigation and impact minimisation plans for each
- sound, practical financial plans and timetables
- good value for money, which will always be a consideration in Innovate UK funding decisions
- 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
- clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
The competition gives preference to applications that demonstrate realistic, significant potential for global markets.
Proposals from innovation-based businesses with significant ambition and potential for growth or scale-up are welcomed.
Where possible, projects should take customer and user needs into account to deliver more desirable and useful solutions
Innovate UK are looking to fund a portfolio of projects, across a variety of technologies 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
To find out more about this competition, please follow the link provided on the right hand side.