News article

Funding competition: investment accelerator pilot

21 April 2017

£8.5 million for feasibility studies in infrastructure systems or health and life sciences

Innovate UK has announced a new pilot programme to provide simultaneous grant funding and venture capital investment for early stage projects led by UK companies.

Up to £3 million of grant funding and £1.25 million of private equity investment is available for each of the two competition themes:

  • projects related to infrastructure systems, including includes smart infrastructure, energy, urban living and connected transport
  • projects related to health and life sciences, including health, agriculture and biosciences

Innovate UK expect projects to have total costs of up to £150,000. The programme will provide 100 per cent of project costs. Projects should last between three and 12 months.

The competition is open to single small and medium-sized enterprises (SMEs) that are looking for early stage grant funding, and who wish to establish an equity relationship with a UK venture capital firm.

The competition will open on 8 May 2017. You must register before midday on 28 June 2017 and apply before midday on 5 July 2017.

A briefing event will take place in London on 15 May 2017.