The next round of Innovate UK’s Smart Awards is now open. Businesses can apply for a share of up to £25 million for game-changing innovative and disruptive ideas that can significantly impact the UK economy. Your proposal must be business focused.
Competition for this round closes: 5 January 2022 11:00am.
If you are looking to fund a feasibility study or industrial research project, you could get funding towards eligible costs of up to:
- 70% if you are a micro or small organisation
- 60% if you are a medium-sized organisation
- 50% if you are a large organisation
If you have are seeking funding for experimental development for project which is nearer to market, you could get funding for your eligible project costs of up to:
- 45% if you are a micro or small organisation
- 35% if you are a medium-sized organisation
- 25% if you are a large organisation
This competition is open to single applicants and collaborations. To lead a project your organisation must be:
- a UK registered business of any size or UK registered research and technology organisation (RTO)
- able to carry out all your research and development (R&D) project activity in the UK
- intending to commercially exploit the project results from the UK
- involving at least one micro or SME.
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
In applying to this competition, you are entering into a highly competitive process where your chance of success in securing funding will depend on the number and quality of applications submitted.
Typically, the fund is oversubscribed ten-fold, so a 10% chance, but a well-researched and written application will bring the chance of success to 33-50%.
Projects of 6 – 18 months must have total eligible project costs between £25,000 and £500,000 and can be single or collaborative.
Projects of 19 – 36 months must have total eligible project costs between £25,000 and £2 million and must be collaborative.