£25m for game-changing R&D Innovation to impact UK economy
UK registered organisations can apply for a share of up to £25million for game-changing and commercially viable R&D innovation that can significantly impact the UK economy.
Competition opens: Thursday 7 October 2021
Competition closes: Wednesday 12 January 2022 11:00am
Innovate UK, part of UK Research and Innovation, is investing up to £25 million in the best game-changing and commercially viable innovative or disruptive ideas. All proposals must be business-focused.
Applications can come from any area of technology and be applied to any part of the economy, such as, but not exclusively:
- the arts, design and media
- creative industries
- science or engineering
Proposals must demonstrate:
- a clear game-changing, innovative, disruptive, and ambitious idea leading to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a clear, evidence-based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
- clear, considerable potential to significantly impact either or both, the UK economy and productivity in a positive way
- sound, practical financial plans and timelines that represent good value for money, which will always be a consideration in Innovate UK funding decisions
Your project should:
- demonstrate realistic, significant potential for global markets
- take customer and user needs into account to deliver more desirable and useful solutions
- Proposals from innovation-based businesses with significant ambition and potential for growth or scale up are welcome.