News article

Innovation loans: open competition

14 October 2019


Up to £10 million in loans for game-changing innovations with strong commercial potential

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 game-changing and/or disruptive ideas or concepts. There should be a clear route to commercialisation and economic impact.

Your project should aim to develop new products, processes or services which are significantly ahead of anything similar in the field. You can also propose an innovative use of existing products, processes or services.

Your proposal can use any technology from any part of the economy.

Your project must focus on commercialisation, growth or scale up. Innovate UK will give priority to proposals likely to lead to growth and gains in productivity.

You must be able to show that you:

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

The competition closes at 12:00 noon on Wednesday 27 November 2019.

Find out more about the competition and apply.

Innovation Loans briefing events
Before applying for the loans, you should read the eligibility criteria and understand what type of projects Innovate UK is looking for. To find out more about the competition, you can also attend a briefing event in person or online.

Events are happening across the whole of the UK, including in Northern Ireland:

London event on 21 October 2019 will be available via webcast.

If you are unsure if you should attend a briefing event, read '4 reasons to attend an Innovation Loans Competition briefing event'.