Closes: Wednesday 8 January 2025 12:00pm
Innovate UK is offering up to £25 million in loans to micro, small and medium sized enterprises (SMEs). Innovate UK innovation loans are for highly innovative late stage research and development (R&D) projects with the best potential for the future. There must be a clear route to commercialisation and economic impact.
The projects must lead to innovative new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.
The projects must focus on one or more of the future economy areas included in the Innovate UK plan for action.
You can apply for a loan of between £100,000 and £2 million to fund your project’s eligible costs. Projects can last up to five years, including both the R&D and commercialisation phases, and are expected to start by 1 June 2025.
You can find full details here.
