Innovation loans future economy competition: round five

UK registered businesses can apply for loans for innovative projects with strong commercial potential to significantly improve the UK economy.

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

Your project must lead to 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.

We are particularly interested in projects that focus on 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. This is round 4, the final round in the current series.

In applying to this competition, you are entering into a competitive process. This competition closes at 11am UK time on the deadline stated.

Eligibility: This competition is open to single small and medium-sized enterprise applicants registered in the UK

Opening date: 20 July 2022 09:30 UK time

Closing date: 14 September 2022 11:00 UK time

Funding Type: Loan

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

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