Innovate UK Smart grants: July 2024
Innovate UK, part of UK Research and Innovation, is investing up to £25 million in the best game changing and world leading ideas, designed for swift, successful commercialisation.
The Innovate UK Smart grant has focused scope and eligibility criteria to support micro, small or medium-sized enterprises (SMEs) and their partners in developing genuinely new innovations with significant potential for rapid economic return to the UK. The application process reflects the importance of obtaining economic benefits from public funding, and the potential for successful commercialisation, growth, and exports. Applications can come from any area of technology and be applied to any part of the economy.
Projects must focus on taking customer and user needs into account to deliver more desirable and useful solutions; identifying who is ready to buy the innovation; being developed, planned and resourced beyond the end of the Innovate UK funded project, taking into account the focus of any project partners and their existing commitments; and fitting in with and complementing the ongoing business planning and development, product offerings and organisational structure to maximise chances of success.
Projects must start by 01 April 2025, end by 31 March 2027, include at least one micro, small or medium enterprise (SME) as the lead or a collaborative grant claiming partner, follow specific rules depending on its duration, carry out all of its project work in the UK, and intend to exploit the results from or in the UK. If project’s duration is 6 to 18 months, it must have total eligible project costs between £100,000 and £500,000, and be single or collaborative. If project’s duration is 19 to 24 months, it must have total eligible project costs between £100,000 and £1 million, and be collaborative.
Application deadline: 23 October 2024 11:00am. If you would like to discuss this with someone in our team please message our Sector Lead, Yuchen Gu
Follow the link here to apply for this grant