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Fast Start: Innovation UK registered small and micro businesses can apply for a share of up to £30 million for affordable, adoptable and investable innovations in net zero and Healthcare. Eligibility This competition is open to single applicants only. To lead a project your organisation must: be a UK registered micro or small business not have previously been awarded funding from Innovate UK carry out its project work in the UK intend to deliver the proposed outcomes from the UK for domestic or global benefit Opening soon Opens: 11 July 2022 Closes: 26 July 2022

Programme: Innovate Uk

Award:

Opens: 11 July 2022

Closes: 26 July 2022

Description

Innovate UK is offering small and micro businesses a share of up to £30 million in grants alongside tailored business support delivered by Innovate UK EDGE. You can apply for up to £50,000 for highly innovative ideas that have a clear route to commercialisation through business growth.

Your project must lead to new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.

In your application, you must be able to show that you:

  • have a great idea
  • need public funding
  • have the capability to deliver the project
  • will deliver the project

Your idea must focus on either achieving net zero or self-driven healthcare, and how new technology can enable affordable, adoptable and investable innovations in these areas. We are particularly interested in proposals which will help you:

  • develop both your idea and your business
  • create a new revenue stream
  • evidence and enable your market, funding and commercialisation plans
  • show what’s feasible, helping you decide whether to pursue your idea further
  • catalyse further innovation on your path to commercial success
  • respond to changing market conditions

Innovate UK runs many different competitions, and each will have different eligibility and scope requirements. The guidance in this competition brief will always supersede any other guidance. If you are unsure or have any questions, please contact our Customer Support Service who will assist you further.

In applying to this competition, you are entering into a competitive process. This competition closes at 11am UK time on the deadline stated.

Funding type

Grant

Project size

Your project’s total costs must be between £25,000 and £50,000.

Who can apply

Your project

Your project must:

  • have total project costs between £25,000 and £50,000
  • start by 1 November 2022
  • end by 30 April 2023
  • last between 3 and 6 months in duration
  • carry out its project work in the UK
  • intend to exploit the results from or in the UK

You must only include eligible project costs in your application. If you exceed the total project costs of £50,000 you will be ineligible and your application will not be sent for assessment.

Under current restrictions, this competition will not fund any procurement, commercial, business development or supply chain activity with any Russian entity as lead or subcontractor. This includes any goods or services originating from a Russian source.

You will be made ineligible if you exceed the Minimal Financial Assistance limit. You must submit a completed declaration as part of your application.

Lead organisation

To lead a project your organisation must:

  • be a UK registered micro or small business
  • not have previously been awarded funding from Innovate UK
  • not have exceeded your £315,000 limit of de minimis or minimal financial assistance funding during the current and previous 2 fiscal years

Eligibility Tree

Attached is a visual representation of the eligibility criteria.

Funding

Up to £30 million has been allocated to fund innovation projects in this competition. Each organisation can apply for a grant of between £25,000 and £50,000.

You can claim 100% of your eligible project costs up to the maximum of £50,000. We will aim to pay:

  • 70% of the grant within a month of your agreed project start date
  • A further 20% to be paid in arrears after approval of your 70% claim and evidence received for your 20% claim
  • the remaining 10% of the grant 10 to 14 days after Innovate UK approve your claim

For more information on company sizes, please refer to the Company accounts guidance. This is a change from the EU definition unless you are applying under European Commission De minimis.

If you are applying for an award funded under European Commission Regulations, the definitions are set out in the European Commission Recommendation of 6 May 2003.

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