Innovate UK Smart Grants are for the best ideas from business, no matter what field they are in, where they are from, and the stage of innovation – from testing the feasibility of an idea to development and prototyping.
They are for business innovation projects that offer a major step-change, either to what’s already available or by developing an entirely new technology, service or process.
These should have a high potential for commercialisation within the UK and wider global markets.
Projects should be:
- for products, processes or services that are game-changing or disruptive
- significantly ahead of others in the field
- backed up by a strong, achievable business plan, practical financial planning and timelines, and realistic risk management and mitigation
- led by skilled and experienced teams used to running successful projects, to time
- good value for money
- quickly commercialised following completion, to offer a clear return on investment
- able to create a considerable positive impact to UK productivity and the economy
- the competition is open and the deadline for applications is midday on 24 April 2019
- businesses of any size or research and technology organisations can lead a project
- leads can work alone or collaborate with others, depending on the project length and size. They should involve at least one small or medium-sized enterprise
- projects with total eligible costs of £25,000 to £500,000 should last between 6 and 18 months
- projects with total eligible costs of £25,000 to £2 million should last between 13 months and 3 years
- businesses could get up to 70% of their costs
- awarded projects must start by 4 November 2019
To find out more about this grant scheme please visit the website using the link provided on the right hand side.