Deadline: 26-Oct-22
UK registered organisations can apply for a share of up to £25 million for game-changing and commercially viable R&D innovation that can significantly impact the UK economy.
This funding is from Innovate UK, part of UK Research and Innovation.The Smart grant funds a cross-sector portfolio of the best game-changing, and world leading projects. It offers funding where other opportunities are not available or appropriate, and where timing is key to ensure swift and successful commercialisation post-project completion.
Scope
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
Specific Themes
Your project must focus on:
- taking customer and user needs into account to deliver more desirable and useful solutions
- identifying who is ready to buy your innovation
- being developed, planned and resourced beyond the end of the Innovate UK funded project, taking into account the focus of any project partners and their existing commitments
- fitting with and complementing your ongoing business planning and development, product offerings and organisational structure to maximise chances of success
Funding Information
- Projects of 6 to 18 months must have total project costs of between £100,000 and £500,000 and can be single or collaborative. Projects of 19 to 36 months must have total project costs of between £100,000 and £2 million and must be collaborative.
- Duration:
- start by 1 May 2023
- end by 30 April 2026
Eligibility Criteria
- Your project must:
- include at least one micro, small or medium-sized enterprise (SME) as the lead or a collaborative grant claiming partner
- follow specific rules dependent on its duration
- carry out all of its project work in the UK
- intend to exploit the results from or in the UK
- If your project’s duration is 6 to 18 months, it must:
- have total project costs between £100,000 and £500,000
- be single or collaborative
- If your project’s duration is 19 to 36 months, it must:
- have total project costs between £100,000 and £2 million
- be collaborative
- To lead a project your organisation must:
- be an SME if you want to work alone
- be a UK registered business of any size or a research and technology organisation (RTO) if collaborative
- include at least one SME if you are a large business or RTO and wish to collaborate with other UK registered businesses, research organisations, academic organisations, public sector organisations or charities
- claim grant funding
- If the lead organisation is an RTO it must collaborate with 2 businesses (one SME, and one business of any size) and there must be a credible route to market for the output of the project.
- To collaborate with the lead, your organisation must be one of the following UK registered:
- business of any size
- academic institution
- charity
- not for profit
- public sector organisation
- research and technology organisation (RTO)
- Each partner organisation must be invited into the Innovation Funding Service by the lead to collaborate on a project. Once accepted, partners will be asked to login or to create an account and enter their own project costs into the Innovation Funding Service.
- If collaborative, the lead and at least one other organisation must claim grant funding by entering their costs during the application.
For more information, visit https://apply-for-innovation-funding.service.gov.uk/competition/1224/overview/282a61af-bb23-43e7-8c47-143fafba51de
