News article

Innovation loans: July 2019 open competition

10 July 2019


Loans for innovations with strong commercial potential that will significantly improve the UK economy

Innovate UK is offering up to £10 million in loans to micro, small and medium-sized enterprises (SMEs). Loans are for highly innovative late-stage projects with the best disruptive ideas or concepts. There should be a clear route to commercialisation and economic impact.

Projects should aim to develop new products, processes or services (or innovative use of existing ones) believed to be significantly ahead of anything similar in the field.

Your proposal can come from any technology and any part of the economy.

Projects must focus on commercialisation, growth or scale-up. Priority is given to proposals likely to lead to growth and gains in productivity.

Projects should last up to five years, of which up to three years can focus on late-stage research and development, and up to two more years on establishing a clear route to commercial success. Loan repayments will be required over a further period of up to five years.

Businesses must be able to show that they:

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

Find out more about the scope, eligibility criteria, briefing events and how to apply

The competition closes at 12:00 on 11 September 2019.