A new round of Smart Grants is open for applications! Up to £25m is available for game-changing and commercially viable R&D innovation that can significantly impact the UK economy.
Innovate UK has changed some of the application questions for this round of Smart Grants. You can read the updated application form here.
Scope
Applications can come from any area of technology and be applied to any part of the economy. All ideas must be genuinely new and novel, not just disruptive within their sector. To be in scope, your proposal must demonstrate:
- a game-changing, innovative, and disruptive idea that will lead to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- clear potential to positively impact the UK’s position, productivity and competitiveness within the global economy
- a clear, evidence-based business plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- why Smart funding is the right potential funding for your project, and the journey you have already been on to reach the point of application
- a team with the necessary skills and expertise to deliver the project successfully and on time, and to achieve rapid commercialisation
- awareness of all the main risks the project will face with realistic management, mitigation and impact minimisation plans for each risk
- sound, practical financial plans and timelines that represent good value for money, including the funding of post-project activities
Eligibility
Your application must include at least one SME; they can be the lead or a collaborative grant claiming partner. The project must start no later than 1st January 2023 and end no later than 31st December 2025. Your project must also follow specific rules based on its duration:
- Projects with durations between 6 and 18 months must have total eligible project costs between £100,000 and £500,000. They can be single or collaborative projects.
- Projects with durations between 19 months and 36 months must have total eligible project costs between £100,000 and £2 million. In contrast to shorter projects, they must be collaborative.
This competition is open from 25th April until 27th July. For more information, please visit the competition page or attend the online briefing event on 3rd May 2022. If you need help putting together a competitive proposal, please contact us today.
You may also be interested in our Innovate UK application guide – subscribe to RedKnight’s monthly newsletter today to receive a free copy direct to your inbox!
