GB Shared

Innovate UK innovation loans future economy: Round 21 in Lancashire

GB Shared

Business

Expires:

Total: 2000000

Individual: 100000

Minimum company size: 1

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Description
Innovate UK is offering up to £25 million in loans to micro, small and medium sized enterprises (SMEs). Innovate UK innovation loans are for highly innovative late stage research and development (R&D) projects with the best potential for the future. There must be a clear route to commercialisation and economic impact.

Your project must lead to innovative new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.

Your project must focus on one or more of the future economy areas included in the Innovate UK plan for action.

You must be able to show that you:

  • need public funding
  • can cover interest payments
  • will be able to repay the loan on time

The funding available will be allocated across a series of competitions with the next round opening on the day the previous round closes:

  • round 21 will open on 8 May 2025 and will close on 2 July 2025
  • round 22 will open on 3 July 2025 and will close on 27 August 2025
In applying to this competition, you are entering into a competitive process. This competition has a funding limit, so we may not be able to fund all the proposed projects. It may be the case that your project scores highly but we are still unable to fund it.
This competition closes at 11am UK time on the deadline stated in this Innovate UK competition brief. We cannot guarantee other government or third party sites will always show the correct competition information.
Funding type
Loan

Project size
Loans can be between £100,000 and £2 million.

Accessibility and Inclusion
We welcome and encourage applications from people of all backgrounds and are committed to making our application process accessible to everyone. This includes making reasonable adjustments, for people who have a disability or a long-term condition and face barriers applying to us.
You can contact us at any time to ask for guidance.
We recommend you contact us at least 15 working days before this competition’s closing date to allow us to put the most suitable support in place. The support we can provide may be limited if you contact us close to the competition deadline.
You can contact Innovate UK by email or call 0300 321 4357. Our phone lines are open from 9am to 12pm and 2pm to 5pm UK time, Monday to Friday (excluding bank holidays).
Funding Expires 3 months from now

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