UK businesses can apply for a share of £8.5 million to fund feasibility studies in infrastructure systems or health and life sciences.
This is a pilot programme for Innovate UK. It provides simultaneous grant funding and venture capital investment for early stage projects led by UK companies.
Programme: Innovate UK
Award: Up to £150K
Opens: 8th May 2017
Closes: 5th Jul 2017
This is a pilot programme for Innovate UK. It provides simultaneous grant funding and venture capital investment in early stage projects led by UK companies.
The programme will provide 100% of project costs. The aim is to:
This competition covers 2 of our sector groups: infrastructure systems and health and life sciences. It therefore has a large scope, comprising the following areas:
Health and life sciences
The aim of this competition is to fund feasibility studies that explore and evaluate the commercial potential of innovative ideas. Applicants should do this through:
In all these cases, the aim of the investment accelerator pilot is to fund innovative high-risk projects and invest in companies that have real potential for growth.
Innovate UK will assess applications using the standard Innovate UK assessment process, while the investors will use their own assessment techniques. Both Innovate UK and the investor partner must identify a project as fundable before a grant is offered.
For further details on specific competition themes, please click here.
To apply for this competition and lead a project you must:
Innovate UK has allocated up to £6 million of grant funding for this competition: £3 million for infrastructure systems and £3 million for health and life sciences.
For technical feasibility studies, you could get:
Innovate UK’s investor partners have agreed to match fund the remaining 30% or 40% of project costs through equity investment or convertible loans.
Projects are expected to last 3 to 12 months and to have total costs of up to £150,000.