Innovate UK Smart Grants – Apply Now!

Deadline: 24-Mar-24

UK registered organisations can apply for a share of up to £25 million for game-changing and commercially viable R&D innovations that can significantly impact the UK economy.

This funding is from Innovate UK, part of UK Research and Innovation.

The Innovate UK Smart grant supports SMEs and their partners develop the best game changing and world-leading innovative R&D 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.

To be in scope your proposal must demonstrate:

• a ground-breaking and innovative idea for brand new products, processes or services
• an idea that is significantly different from already available products, processes or services globally
• an idea that is set for rapid commercialisation following project completion
• 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

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 in with and complementing your ongoing business planning and development, product offerings and organisational structure to maximise chances of success

Project Size

• Projects of 6 to 18 months must have total eligible project costs between £100,000 and £500,000 and can be single or collaborative. Projects of 19 to 24 months must have total eligible project costs between £100,000 and £1 million and be collaborative.

Projects they will not fund

• They are not funding projects:
  • that do not meet the competition scope or eligibility criteria
  • where the technology is already available
  • that do not address the size, potential and access to market for their innovation
  • that do not evidence the potential for their idea to lead to significant return on investment (ROI), positive economic impact, growth and scale-up of the business
  • that do not provide clear and realistic plans to commercialise their innovation as soon as possible post-project completion
  • where other Innovate UK funding support is available and more appropriate
• They will not fund commercialisation activities such as marketing and sales.
• They cannot fund projects that are:
  • dependent on export performance, for example, giving a subsidy to a baker on the condition that it exports a certain quantity of bread to another country
  • dependent on domestic inputs usage, for example, giving a subsidy to a baker on the condition that it uses 50% UK flour in their product

Who can apply?

• Your project
  • The eligibility criteria for the Smart January 2024 round of the competition are different to previous rounds of the Smart grant. You must ensure your application meets the new eligibility criteria or it will not be sent for assessment.
  • Your project must:
    • start by 1 October 2024
    • end by 30 September 2026
    • include at least one micro, small or medium enterprise (SME) as the lead or a collaborative grant claiming partner
    • follow specific rules depending on its duration
    • carry out all of its project work in the UK
    • intend to exploit the results from or in the UK
  • Projects must always start on the first of the month and this must be stated within your application. Your project start date will be reflected in your grant offer letter if you are successful.
  • The end by date is the date by which all funding for this round of the competition must end. Your contracted end date will not be extended.
  • If your project’s duration is 6 to 18 months, it must:
    • have total eligible project costs between £100,000 and £500,000
    • be single or collaborative
  • If your project’s duration is 19 to 24 months, it must:
    • have total eligible project costs between £100,000 and £1 million
    • be collaborative
  • Under current restrictions, this competition will not fund any procurement, commercial, business development or supply chain activity with any Russian or Belarusian entity as lead, partner or subcontractor. This includes any goods or services originating from a Russian or Belarusian source.
• Lead organisation
  • To lead a project or work alone your organisation must:
    • be a UK registered SME if you want to work alone
    • be a UK registered business of any size, or a research and technology organisation (RTO) if your proposal is collaborative
    • include at least one grant claiming 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
• Project team
  • 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 (IFS) by the lead to collaborate on a project. They will then appear on your application as collaboration partners.
• Non-funded partners
  • Your project can include UK partners that do not receive any of this competition’s funding. Their costs will count towards the total project costs.
• Subcontractors
  • Subcontractors are allowed in this competition.
  • Subcontractors must be based in the UK for the duration of the project and their portion of the project work must be carried out in the UK. Subcontractors can be from anywhere in the UK and you must select them through your usual procurement process.
  • All subcontractor costs must be justified and appropriate to the total project costs.
  • For the purposes of this competition the Channel Islands and the Isle of Man are crown dependencies and not classed as part of the UK. Subcontractors located there would be ineligible.
  • Subcontractors are not considered collaboration partners.
• Number of applications
  • A business or research and technology organisation (RTO), can only lead on one application but can be included as a collaborator in two further applications. Any subsequent applications submitted with the same lead will be ineligible and will not be forwarded for assessment.

For more information, visit Innovate UK.