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Applications opened June 20, 2024 and closed August 14, 2024 at 11:00. This round is now closed.
Innovate UK Investor Partnerships: SME Round 8 is sponsored by Innovate UK. Grant funding for UK registered SMEs working in creative industries, or XR for digital mental health, alongside private investment from selected investor partners.
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Innovate UK Investor Partnerships: SME round 8 - Innovate UK Business Connect Knowledge Transfer Partnerships Innovate UK Investor Partnerships: SME round 8 Innovate UK Investor Partnerships: SME round 8 UK registered SMEs working in creative industries, or XR for digital mental health, can apply for grant funding alongside private investment from selected investor partners.
[taxonomy] => type_of_funding Your project’s total costs will depend on your research category and must be in the ranges: £50k-£300k for feasibility studies; £100k-£1m for industrial research; £250k-£2m for experimental development. The grant from Innovate UK can cover up to 70% of these costs depending on project type and business size.
The aligned investment led by the investor partner must always be at least twice as much as the grant funding.
Creative Industries , Digital , Investment The future economy investor partnership programme brings together: Innovate UK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses investor partners’ aligned funding and expertise in identifying opportunities and teams that can best use extra investment finance This approach aims to provide you with support for research and development access to the capital investment you need to develop and commercialise your innovations.
You will need to establish a relationship and a level of investment traction with one of our approved investor partners before you apply for funding. A full list of selected investor partners is provided at Innovate UK Investor Partners – UKRI and Innovate UK Business Connect investor partnerships websites. If you would like help to find an investment partner, contact Innovate UK Business Connect’s Investment team .
The funding available in this round is limited, so only two specific themes are in scope. These are Creative Catalyst (creative industries, underpinned by innovative digital technology or sustainable innovations) and Mindset (extended reality for digital mental health). These are further described in the “specific themes” section below.
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pageYOffset - 80; // adjust offset window. scrollTo({ top, behavior: 'smooth' }); This competition is open to single applicants only.
To apply your organisation must: be a UK registered micro, small or medium sized business (SME) carry out its project work in the UK intend to exploit the results from or in the UK be invited to apply by your investor partner have discussed and agreed your proposal with your investor partner before submitting your application Subcontractors are allowed in this competition.
An SME can only submit one application into this round of the competition. const el = $refs['accordion2']; const top = el. getBoundingClientRect().
top + window. pageYOffset - 80; // adjust offset window. scrollTo({ top, behavior: 'smooth' }); The eligibility criteria will depend on your research category .
For feasibility studies projects: your total project costs must be between £50,000 and £300,000 the project duration must be between 6 and 12 months For industrial research projects: your total project costs must be between £100,000 and £1 million the project duration must be between 6 and 15 months For experimental development projects: your total project costs must be between £250,000 and £2 million the project duration must be between 12 and 15 months const el = $refs['accordion3']; const top = el.
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scrollTo({ top, behavior: 'smooth' }); Innovate UK will cover up to 70% of the costs of your project, depending on business type and project size. The investment from the investment partners does not have to directly pay for the costs of the project, but must be at least double the amount received from Innovate UK. If you are successful, you will receive grant funding to cover a proportion of the costs of your project.
The project will only be allowed to commence once the agreed aligned investment has been confirmed. const el = $refs['accordion4']; const top = el. getBoundingClientRect().
top + window. pageYOffset - 80; // adjust offset window. scrollTo({ top, behavior: 'smooth' }); The aim of this competition is to provide you with support for research and development and access to the capital investment you need to develop and commercialise your innovations.
Your proposal must have a clear route to market, a clear link to innovation and evidence that you can create a team to deliver your proposal.
registered in the UK as an SME by the time the award is contracted able to complete the aligned investment led by the investor partner needed to qualify for the award, through the issue of new shares or convertible debt You must also demonstrate that if your project is funded, it will: have significant market impact be attractive to equity investors const el = $refs['accordion5']; const top = el. getBoundingClientRect(). top + window.
pageYOffset - 80; // adjust offset window. scrollTo({ top, behavior: 'smooth' }); Most of the funding for the Future Economy Investor Partnership programme has now been fully committed.
The only specific themes with remaining funding available are: The application of extended reality for digital mental health, including immersive content that could be delivered as a digital mental health therapeutic in formal healthcare settings Projects within the creative industries which are underpinned by innovative digital technology as well as sustainable innovations, such as circular fashion (Creative Catalyst).
Complete list of themes: advertising and marketing visual art and photography const el = $refs['accordion6']; const top = el. getBoundingClientRect(). top + window.
pageYOffset - 80; // adjust offset window. scrollTo({ top, behavior: 'smooth' }); Innovate UK Business Connect held an online briefing event for potential SME applicants on Tuesday 25 June: click here to watch the recording . If you would like help to find an investment partner, or have any other queries, contact Innovate UK Business Connect’s Investment team .
25/06/2024 | 10. 00 - 12. 00 Future economy investor partnership SME competition round 8 briefing event Connect with Innovate UK Business Connect
Based on current listing details, eligibility includes: UK registered SMEs working in creative industries or XR for digital mental health. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Not specified (grant funding alongside private investment) Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
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Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.