1 October 2018
Loans are available for game-changing innovations with strong commercial potential
Innovate UK has launched its latest Innovation Loans competition offering up to £10 million in loans to start-ups and SME's (small and medium size enterprises).
Loans are for highly innovative late-stage projects with the best game-changing and/or disruptive ideas or concepts. 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.
There should be a clear route to commercialisation and economic impact. Proposals likely to lead to growth, gains in productivity and/or access to new overseas markets through export will get priority. Your proposal can come from any part of the economy and any technology, including arts, design, media or creative industries.
To be eligible to apply for Innovation Loans, businesses must be able to show that they:
- can cover interest payments
- will be able to repay the loan on time
- need public funding
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.
The deadline for application to this competition is 14 November 2018.
Innovation Loans workshop
Techstart and Innovate UK are hosting a workshop to share insight and valuable tips for applying to this current Innovation Loans competition.
The workshop will take place on Thursday 18 October 2018 at The Vault, Catalyst Belfast Fintech Hub, Danske Bank, Donegall Square West, Belfast, BT1 6JS.