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Author

Kara Mackenzie

Published

28th June 2021

Category
Funding

Innovate UK - Smart Grants - May 2021

Funding to support innovation in business.

Value: £25k - £50k 6-18 month projects and single or collaborative,  £25k - £2m  19 – 36 month collaborative projects

Closing Date: 25th August 2021

Summary:

Your proposal must demonstrate:

  • a clear game-changing, innovative, disruptive, and ambitious idea leading to new products, processes or services
  • an idea that is significantly ahead of others in the field, set for rapid commercialisation
  • a strong and deliverable business plan that addresses (and documents) market potential and needs
  • a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
  • a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
  • awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
  • clear, considerable potential to significantly impact either or both, the UK economy and productivity in a positive way
  • sound, practical financial plans and timelines that represent good value for money, which will always be a consideration in Innovate UK funding decisions

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