Deadline: 10-Nov-21
The Innovate UK, as part of UK Research and Innovation, is inviting investors to partner with them for this Transforming Food Production Series A Investor Partnership Programme.
The Innovate UK is seeking investor partners that are looking to invest in high growth potential SMEs that aspire to transform food production towards net zero emissions. The SMEs will be selected in a concurrent competition.
The aim of this program is to encourage investment in innovative companies with developed technologies that are working towards net zero emission productive food systems. Investor partners must provide wider business skills and experience as well as financial investment.
Competitions
The Transforming Food Production Series A Investor Partnership Program consists of 2 competitions:
- This investor partner selection competition, which collates and assesses applications from investors to form an investor pool. This competition is not offering any funding.
- The SME competition, which opens on 18 October 2021. This will be for SMEs to submit project applications for grant support with a key ar alignment for private investment.
- Total eligible project costs submitted by the SME must be between £ 1 million and £ 3 million.
- SME projects must start no later than 1 August 2022. Projects must have a duration of 18 months.
- Innova te UK is seeking investor partners that want to invest in high growth potential SMEs that aspire to transform food production towards net zero emissions. The SMEs will be selected in a parallel competition.
- Your organization must be an equity provider with the potential to act as lead investor in Series A investments from £ 1 million to £ 5 million. Equity providers that are a charity or a trust are also eligible.
- Innovate UK aims to establish a ‘pool’ of lead investor partners, interested in making investments aligned with Innovate UK grants. Investments must be either direct equity or convertible loans.
- You must also be able to offer other commercial acumen to SMEs, for example:
- leadership
- market access
- skills
- resource
- No funding commitment is required at this stage. They only need your commitment to review and consider project proposals that will be selected by Innovate UK in the SME competition opening on 18 October 2021.
- Innovate UK is particularly interested in investors who:
- are willing to act as sole investor in Series A investments or be the lead investor where additional co-investment is required (co-investors can be from within or from outside of the pool being formed)
- are prepared to deploy Series A financing with a patient and long-term view
- can follow their investment and potentially provide more financing when required
- can commit to helping the SMEs with international aspirations to grow and scale up
- have relevant sector or technology-specific expertise or social impact priorities around resilient and environmentally sustainable food production.
For more information, visit https://apply-for-innovation-funding.service.gov.uk/competition/1039/overview