Innovate UK

Innovation Loans Expression of Interest in Lancashire

Innovate UK

Business

Expires:

Total: 5000000

Individual: 100000

Minimum company size: 1

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This is an Expression of Interest (EOI) for an Innovation Loan. If your EOI is approved, you will be invited to submit a full application.

Innovate UK, part of UK Research and Innovation (UKRI), is offering 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.

Note: read all the instructions carefully as changes have been introduced to the Innovation Loans programme. This is to give businesses more flexibility to deliver both R&D and pre-commercial activities as well as increasing the maximum amount of the innovation loan and these are described further down in this section.

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 at least one of the following six Industrial Strategy Sectors:
  1. Advanced Manufacturing
  2. Clean Energy
  3. Creative Industries
  4. Defence
  5. Digital and Technologies
  6. Life Sciences

Note: Financial Services, and Professional and Business Services sectors are not in scope for Innovation Loans.

You must be able to show that you:
  • need public funding
  • can cover interest payments
  • will be able to repay the loan on time

We consider a range of factors when determining whether to provide funding to applicants. This includes an assessment of prior conduct, such as any outstanding payments owed to Innovate UK or UKRI. Such factors may influence the funding decision, potentially resulting in a refusal of funding or an award subject to additional scrutiny.

We also reserve the right to adjust funding allocations for any of our competitions. This may be in response to changes in policy, portfolio funding considerations or broader government funding decisions.
The deadline for each drawdown submission is 11am UK time on the dates stated in this Innovate UK competition brief. We cannot guarantee other government or third party sites will always show the correct competition information.
Funding Expires 1 week from now

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