Innovation Loans: April 2018 Open Competition

Funding opportunity:

Innovation Loans: April 2018 Open Competition

Status:

Closed

Funder and programme:

Innovate UK Loans Ltd – Innovation Loans

Loans (range):

£ 100,000 – £ 1,000,000

Opens:

09/04/2018

Registration closes:

06/06/2018 (12:00 noon)

Competition closes:

13/06/2018 (12:00 noon)

Innovate UK is to offer up to £10 million in loans to micro, small and medium-sized enterprises (SMEs). Loans are for highly innovative late stage projects with the best game changing and/or disruptive ideas or concepts. There should be a clear route to commercialisation and economic impact.

Projects should aim to develop new products, processes or services (or innovative use of existing ones) believed to be significantly ahead of anything similar in the field.

Your proposal can come from any technology (including arts, design, media or creative industries) and any part of the economy.

Projects must focus on commercialisation, growth or scale up. Priority is given to proposals likely to lead to growth, gains in productivity and/or access to new overseas markets through export.

Projects should last up to 5 years, of which up to 3 years can focus on late stage research and development (R&D), and up to 2 more years on establishing a clear route to commercial success. Loan repayments will be required over a further period of up to 5 years.

Businesses must be able to show that they:

  • can cover interest payments;
  • will be able to repay the loan on time;
  • need public funding.

This is the first in a series of 3 open loan competitions. A further 2 competitions are planned later in the year.

Projects should last up to 5 years and are expected to start by December 2018.

MSC R&D can help your business develop by supporting you in:
• Identification of appropriate grants and competition calls for proposals
• Partner search for collaborative Research & Innovation
• Bid writing
• Project management
• Audit compliance
• Commercialisation
• Business Planning
• Market Intelligence reports

If you want help with any of these opportunities, please CONTACT us on 0114 230 8401 or email businessdevelopment@mscbdg.co.uk