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Innovate UK Smart grant for micro companies and SMEs

By April 29, 2024May 7th, 2024No Comments

Innovate UK 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.

Proposals must be business focused, and show deliverable, realistic, adequately resourced plans to achieve return on investment, growth and market share following project completion.

Applications can come from any area of technology and be applied to any part of the economy.

Projects of 6 to 18 months must have total eligible project costs between £100,000 and £500,000 and can be single or collaborative. Projects of 19 to 24 months must have total eligible project costs between £100,000 and £1 million and be collaborative.

This competition closes at 11am UK time on the 24 July.

Further information and the application portal can be found here.

Ben Kemp