Deadline: 14 November 2018
Innovate UK is inviting applicants for its “Open Grant Funding Competition 2018 Round 3” to £20 million to deliver game changing or disruptive innovations with significant potential for impact on the UK economy.
All proposals must be business focused, rather than pure research. Applications can come from any area of technology, science or engineering, including arts, design, media or creative industries, and be applied to any part of the economy.
Scope
- a clearly game-changing and/or disruptive innovative idea leading to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays and so on) with realistic management, mitigation and impact minimisation plans for each
- sound, practical financial plans and timelines
- good value for money which will always be a consideration in Innovate UK funding decisions
- a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
Funding Information
- They have allocated up to £20 million to fund innovation projects in this competition.
- If applicant’s project has total eligible costs or duration outside the specified range it will be deemed out of scope and ineligible.
- Total eligible project costs must be within the following ranges:
- Project duration between 6 and 18 months: total costs must be between £25,000 and £500,000 and may be either single company or collaborative applications.
- Project duration between 19 and 36 months: total costs must be between £25,000 and £2,000,000 and must be collaborative.
- If applicant wish to submit a project between £2 million and £3 million as a permitted exception, applicant must email customer services with full justification at least 10 days before applying.
- Project costs below £25,000 will be deemed ineligible.
Eligibility Criteria
To lead a project applicant must:
- be a UK-based business of any size or a research and technology organisation (RTO)
- carry out applicants project in the UK
- intend to exploit the results from the UK
- be an SME if applicant want to work alone
- include an SME if applicant want to collaborate with others (businesses, research base and/or third sector)
How to Apply
Applicants can apply via given website.
For more information, please visit Innovate UK.