Innovate UK’s Innovation Loans programme has returned for 2022! This follows a successful pilot programme that has been delivered by Innovate UK since 2017, providing £163 million to 200 businesses around the UK.
Scope
Loans are available for innovative, late-stage projects with strong commercial potential. All projects must lead to new products, processes or services that are significantly ahead of current state-of-the-art solutions. They should focus on one or more of the following themes and sub-themes:
Net Zero
- energy
- impact of industrial processes and use of materials
- agriculture and food and other sources of emissions
- capital intensity
Health and Wellbeing
- tackling ill health
- enhancing wellbeing
- diet and food
Next generation digital technologies
Technology families
- advanced materials and manufacturing
- artificial intelligence
- digital and advanced computing
- bioinformatics and genomics
- engineering biology
- electronics, photonics and quantum technologies
- energy and environment technologies
- robotics and smart machines
Eligibility
Innovation loans can be for between £100,000 and £2 million. Projects must start by July 2022 and can last up to 5 years, including both the R&D and commercialisation phases. Loan recipients must also:
- Be a UK-registered SME
- Carry out their project from or in the UK and intend to exploit the project’s results from or in the UK
- Give evidence that their business is suitable to take on a loan
More Information
The funding available will be allocated across a series of four competitions that run from 10th March until 13th July. For more information, visit the competition page and register to join the online briefing event on 21st March.
RedKnight has a strong track record of securing Innovate UK funding and can help you develop a competitive application! Please contact us in order to arrange a free consultation.
If you’re looking for grant funding, you may also be interested in Innovate UK Smart Grants.
