UKI2S Accelerator Programme for technology development projects round 2

Overview

The UK Innovation and Science Seed (UKI2S) fund will award grants to innovative projects by UK SMEs. Eligible projects must be independently assessed by Innovate UK as fundable and the required match funding must be available to the company from UKI2S or other investors.

Scope

To be successful, a project must:

• open up new market opportunities for a core technology, or
• substantially de-risk technology development and make the company better able to raise finance from additional investors to scale

Applications should have a clear route to market, a clear link to innovation and evidence that you can create a team to deliver your proposal.

You must demonstrate that if your project is funded it will have:

• significant market impact
• be scalable
• be attractive to other equity investors

Eligibility

To be eligible for funding you must:

• be a UK based small or medium-sized business
• carry out your project work in the UK
• intend to exploit the results through a UK-based company
• be invited to apply by the UKI2S manager

Your project must last at least 12 months, start by 30 June 2020 and be completed by 30 June 2022.

Funding Costs

There is £10 million allocated to fund innovation projects in this competition.

Your project’s costs can be between £100,000 and £2 million.

For feasibility studies and industrial research projects, you could get funding for your eligible project costs of:

• up to 70% if you are a small business
• up to 60% if you are a medium-sized business

For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:

• up to 45% if you are a small business
• up to 35% if you are a medium-sized business