Innovate UK Grants
Innovate UK is the government’s innovation agency. It offers funding of between £25k and £10m to support business projects at every stage from feasibility study to product prototyping. In the past it has also offered SME innovation loans. Now you can get Innovate UK Grants.
Projects funded by Innovate UK
Innovate UK runs a series of funding competitions, which are open to all UK businesses. The projects are relevant to dozens of commercial sectors, from digital manufacturing and energy systems through to marine transport and the creative industries.
You can view current funding competitions on the Innovate UK database and find our more about the scheme here.
Every funding competition has its own criteria, although your application has to prove that your proposals are:
- Commercially viable
- Of wider benefit to society or the UK
Projects need to be realistic and show how they can open up or exploit significant growth markets. They will often be too risky to attract private sector investment.
How THP can help you
We can help you with every stage of the Innovate UK process, from application to claim.
In particular, we can:
- Work with experts to help create an application with a strong chance of success.
We can help create robust applications, whether you want funding to test the feasibility of an idea or create a new product, process or service (or improve an existing one). We can also help with applications that involve collaboration with other businesses or research organisations.
- Create audit reports to validate expenditure for successful projects. These are essential to make your claim – and we can prepare and supply yours within 2 working days.
Combining Innovate UK funding with R&D tax reliefs
Businesses are often advised that combining Innovate UK funding with R&D tax reliefs is impossible. This isn’t strictly true – but to benefit from both takes planning. We can advise you on how to make the most of both grants and R&D tax breaks.
If you’re thinking of applying for Innovate UK funding, we suggest you get in touch for an informal chat. We’d be happy to learn more about your plans and recommend ways of making your application a success.