Innovate UK Smart Grants
Innovate UK Smart Grants are offered by Innovate UK, 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.'Smart Grants' is the new name for Innovate UK's open programme.
Projects funded by Innovate UK
Innovate UK runs a series of funding competitions via its Smart Grants programme, 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.
Innovate UK Smart Grants criteria
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 grants process, from application to claim.
In particular, we can:
- Carry out the work you will need to validate expenditure for successful projects and prepare the compulsory reports to submit to Innovate UK. These reports can only be prepared by qualified firms such as THP and are essential to make your claim – and we can prepare and supply yours within 2 working days. Please visit our dedicated page here to learn more about this special service.
- 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.
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 Smart Grant 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.
A dedicated Innovate UK Grants Team
THP is a smart choice of partner when you need to apply for an Innovate UK grant, or you need a compliant report that allows you to draw down funding.
It's because we a have a specialist Innovate UK Grants team. It's led by me, Andy Green, and I'm helped by my experienced colleague Miles Girdlestone. Together we bring you many years of technical audit experience. We're also dab hands at complying with Innovate UK's audit rules. Our results speak for themselves - every report we have produced has allowed a different client to draw down their funds.
If you'd like to learn more about how we can help you with your Innovate UK grants, please get in touch. We're ready to help you!
Andy GreenClient Director
"We are honest, telling clients what they need to hear, being creative & innovative, we challenge our clients"
Miles GirdlestoneClient Manager
"The quality of the working papers produced has been high which speaks volumes about the team"