Innovate UK Smart Grants for SME

Written by startup news

December 21, 2021

UK registered organisations can apply for a share of up to £25 million for game-changing and commercially viable R&D innovation that can significantly impact the UK economy. This funding is from Innovate UK, part of UK Research and Innovation.

Sponsoring Agency: Innovate UK

Type of Fund: Grant

Deadline: October 6, 2021

Details:

Smart is Innovate UK’s ‘open grant funding’ programme.

Innovate UK, part of UK Research and Innovation, is investing up to £25 million in the best game-changing and commercially viable innovative or disruptive ideas. All proposals must be business focused.

Applications can come from any area of technology and be applied to any part of the economy, such as, but not exclusively:

  • the arts, design and media
  • creative industries
  • science or engineering

Whilst they welcome projects that overlap with the grand challenge areas this is not a requirement, as they are also keen to support projects in other areas.

To monitor the impact of their work to promote equality, diversity and inclusion (EDI), all applicants are required to complete the EDI survey. Applicants are also prompted to consider EDI as part of the application process

EDI considerations are highly encouraged where appropriate in the proposal. Applications will continue to be assessed on their innovation merit, where innovation is defined as the potential for commercially successful exploitation of ideas.

In applying to this competition, you are entering into a highly competitive process where your chance of success in securing funding will depend on the number and quality of applications submitted.

Funding Information

They have allocated up to £25 million to fund innovation projects in this competition.

If the majority of your organisation’s work on the project is commercial or economic, your funding request must not exceed the limits below. These limits apply even if your organisation normally acts non-economically.

For feasibility studies and industrial research projects, you could get funding for your eligible project costs of:

  • up to 70% if you are a micro or small organisation
  • up to 60% if you are a medium-sized organisation
  • up to 50% if you are a large organisation

For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:

  • up to 45% if you are a micro or small organisation
  • up to 35% if you are a medium-sized organisation
  • up to 25% if you are a large organisation

Eligibility Criteria

Your project must include:

  • include at least one micro, small or medium-sized enterprise (SME) as the lead or a collaborative grant claiming partner
  • start by 1 April 2022
  • end by 31 March 2025
  • follow specific rules dependent on its duration
  • carry out your project work in the UK intend to commercially exploit the results from or in the UK (Text update [6 September 2021]: added to clarify this applies to entire project.)

If your project’s duration is 6 to 18 months:

  • it must have total eligible project costs between £25,000 and £500,000
  • it can be single or collaborative

If your project’s duration is 19 to 36 months, it must:

  • have total eligible project costs between £25,000 and £2 million
  • be collaborative

For more information, visit GOV.UK.

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