Funding Support by Smart Grants
Innovate UK have allocated up to £25 million to fund innovation projects in this competition.
If your organisation’s work on the project is mostly commercial or economic, your funding request must not exceed the limits below. These limits apply even if your organisation normally acts non-economically.
As a reminder, Innovate UK will fund innovative research and development (R&D) projects across a variety of technologies, markets and research categories, including:
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Feasibility Studies: analysis and evaluation of a project’s potential, aimed at supporting the process of decision making. This is achieved by uncovering its strengths, weaknesses, opportunities, and threats as well as identifying the resources needed and the prospects for success.
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Industrial Research: planned research or critical investigation to gain new knowledge and skills. This should be for product development, processes, or services that lead to an improvement in existing products, processes, or services.
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Experimental Development: combining, shaping, and using existing scientific, technological, business, and other relevant knowledge and skills to develop new or improved products, processes, or services.
For feasibility studies and industrial research projects, you could get funding for your eligible project costs of:
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up to 70% if you are a micro or small organisation
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up to 60% if you are a medium-sized
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up to 50% if you are a large organisation
For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:
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up to 45% if you are a micro or small organisation
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up to 35% if you are a medium-sized
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up to 25% if you are a large organisation