Deadline: 26-Jul-22
Innovate UK is offering small and micro businesses a share of up to £30 million in grants alongside tailored business support delivered by Innovate UK EDGE for highly innovative ideas that have a clear route to commercialisation through business growth.
The aim of this competition is to provide a package of targeted support to enable ambitious UK registered micro and small businesses to reach their potential.
The project must lead to new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.
In your application, you must be able to show that you:
- have a great idea
- need public funding
- have the capability to deliver the project
- will deliver the project
They are particularly interested in proposals which will help you:
- develop both your idea and your business
- create a new revenue stream
- evidence and enable your market, funding and commercialisation plans
- show what’s feasible, helping you decide whether to pursue your idea further
- catalyse further innovation on your path to commercial success
- respond to changing market conditions
Funding Information
- Have total project costs between £25,000 and £50,000
- Start by 1 November 2022
- End by 30 April 2023
- Last between 3 and 6 months in duration
Eligibility Criteria
Your project
- Your project must:
- carry out its project work in the UK
- intend to exploit the results from or in the UK
Lead organisation
- To lead a project your organisation must:
- be a UK registered micro or small business
- not have previously been awarded funding from Innovate UK (recipients of Young Innovators and Women In Innovation awards are exempt from this and are eligible to apply)
- not have exceeded your £315,000 limit of de minimis or minimal financial assistance funding during the current and previous 2 fiscal years
Subcontractors
- Subcontractors are allowed in this competition.
- Subcontractors can be from anywhere in the UK and you must select them through your usual procurement process.
- You can use subcontractors from overseas but must make the case in your application as to why you could not use suppliers from the UK.
- You must provide a detailed rationale, evidence of the potential UK contractors you approached and the reasons why they were unable to work with you. They will not accept a cheaper cost as a sufficient reason to use an overseas subcontractor.
- All subcontractor costs must be justified and appropriate to the total project costs.
For more information, visit https://apply-for-innovation-funding.service.gov.uk/competition/1155/overview/abd65604-7da7-4fe1-9969-fd71539dd09c#summary