Description
Innovate UK is the United Kingdom’s national innovation agency within UK Research and Innovation (UKRI) that provides non-dilutive funding — including competitive grants and innovation loans — to help businesses develop and commercialize new technologies, products, and services across all sectors. It supports innovation through themed competitions, expert guidance, and networked support to drive economic growth and impact.
Eligibility
General eligibility criteria (vary by competition) typically include:
• The applicant must be a UK-registered business (SME or larger) to lead a project.
• Project work must be carried out in the UK with an intent to commercialize its results.
• Companies in financial difficulty are typically not eligible.
• Some calls require match funding contributions or collaborative partners.
Process
Search & Select Funding Opportunity: Innovate UK runs multiple grant and loan competitions with topic-specific eligibility, deadlines, and scope.
Application Submission: Applicants complete detailed proposals via the Innovation Funding Service with project plans, objectives, and budgets.
Assessment & Scoring: Proposals are evaluated based on innovation merit, commercial potential, and alignment with competition goals.
Award & Delivery: Successful applicants receive grant/loan funding under terms that require UK registration, R&D/project delivery milestones, and reporting.
What an Applicant can Obtain
Non-dilutive grant funding for R&D and innovation projects (ranging roughly from £25,000 to £300,000+ depending on competition).
✔ Innovation loans for later-stage commercialization (£100,000 to £5M+).
✔ Access to expert guidance, workshops, and network support via Innovate UK Business Connect and partners.
✔ Visibility and credibility boost that can attract further investment and partnerships.
✔ Connections with UK innovation ecosystem including Catapults, industry clusters, and collaborative opportunities.
Innovate UK funding is non-dilutive and does not involve equity take, making it distinct from venture capital or accelerator investment.
