Innovation Loans Future Economy Competition

Innovation Loans Future Economy Competition – Round 4

Application Deadline: 13th of July

UK-registered SMEs

Project Length: Up to 5 years

💰 Project Value: £100,000-£2 million

This competition offers loans at an interest rate of 3.7% per anum to help businesses overcome barriers to their innovations becoming a successful, commercial reality. The aim is to make a considerable economic impact which results in significant, sustainable business growth.

Fund Details

Innovate UK is looking for businesses who can demonstrate that their projects have the best potential for the future.

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

Your proposal must demonstrate:

a clearly expressed and compelling innovative idea
a robust and deliverable business plan that addresses and evidences market potential and needs
a team with the necessary skills and experience to run and complete the project successfully and on time, and take the outputs forward
awareness of all the main risks the project and business will face, with realistic plans to manage, mitigate and minimise the impact of each of these
sound, practical financial plans and timelines that represent good value for money and ability to repay the loan
why you are unable to fund the project from your own resources or other forms of public or private-sector funding
a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion

Specific Themes

Net Zero

energy
impact of industrial processes and use of materials
agriculture and food and other sources of emissions
capital intensity

Health and Wellbeing

tackling ill health
enhancing Wellbeing
diet and food

Next generation digital technologies

Technology families

advanced materials and manufacturing
artificial intelligence
digital and advanced computing
bioinformatics and genomics
engineering biology
electronics, photonics and quantum technologies
energy and environment technologies
robotics and smart machines

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