On 25^th April 2022, Innovate UK launched the first SMART Grants funding competition with it’s new format and focus.

The new competition is open for applications now, with a deadline of 27^th July 2022. The competition has some subtle changes that mean it has a greater focus on game-changing innovative projects which demonstrate a strong route to commercial success.

The Innovate UK SMART Grant Changes

We have reviewed the new Innovate UK SMART Grants competition and have noted the changes to the format, as detailed below:

• The scope has an increased focus on projects being ‘game-changing’
• Projects will not be funded if the technology is available or used in another sector
• There is a greater focus on business planning and early adopter interest
• Projects must justify their suitability for public funding over other investment channels
• Projects will not be funded if other Innovate UK support is available and more appropriate
• The application form has a new format, with changes that reflect these points

Applying for Innovate UK SMART Grants

In their supporting article, to the new SMART Grants competition, UKRI and Innovate UK have stated that “typically, 50% of the applications we receive aren’t right for the funding”, which we believe has inspired these changes to the competition format.

Within this article, they have put together a five question SMART funding checklist for applicants to consider; containing questions such as ‘Is my idea at the right stage of development?’ and ‘What does a successful project look like?’

Companies thinking about applying may also find it useful to attend the briefing event, being held on 3^rd May 2022, to get a further understanding of the projects Innovate UK are looking to fund – you can find the link for the briefing event here.

How can TBAT help?

We’re currently taking enquiries to support businesses to apply for this round of Innovate UK SMART Grants. Despite the competitiveness of the funding scheme, our team of Grant Funding experts have an excellent success rate of securing SMART Grant funding for our clients; and have a clear understanding of the impact of this new format.

We’d be happy to have a chat regarding your project idea, and will provide open and honest feedback on whether you’re likely to be successful for an Innovate UK Smart Grant; as well as discussing how we can support you during the application writing process.

You can book to speak to one of our experts using the calendar below, or by using our contact us form here.

Interested in applying for this competition?

Book an appointment to speak to one of our advisors to discuss your eligibility to apply for this Grant Funding opportunity.