Innovation Continuity Loans – Package of Support Available
Innovate UK has loan funding available to SMEs and third sector organisations that have been impacted by the Covid-19 pandemic and are facing a challenge in continuing, completing or following on from innovation activity. Find out more about the package of continuity loan funding available.
We have broadened our eligibility criteria and launched our Strand 3 competition which is now open to businesses who are continuing, completing or following on from innovation activity that has not been supported by an Innovate UK award in the last 36 months and require loan funding between £250,000 and £1.6 million.
Webinar recording and slides are now available
Find the slides here.
Please view frequently asked questions and questions that were unanswered in the webinar here.
Alternatively, if you have an innovation project that follows on from an Innovate UK supported project completed in the last 36 months, you may be interested in applying for the Strand 2 competition where loans of a similar amount are available for projects of any size. We have been able to extend this to one further competition closing in the new year.
We are also pleased to announce that the Strand 1 competition remains open for applications to Innovate UK award holders who have a challenge in the continuation of their live projects and the closing date of this has also been extended.
Deadline for submission for applications to all 3 competitions is 13th January 2020.
To find out more about all three strands of Continuity Loan funding join us on Wed 9th December 2020 at 10am for our Applicant Briefing Webinar.
The briefing event will provide background information to the Innovation Continuity Loans; the application process, both from the project and financial aspects; the assessment process as well as the approach to the credit decision making process. Members of the Innovation Loans team will be available to answer any questions that you may have.
Strand 1 : Innovation Continuity Loan – Strand 1
Innovate UK has up to £210m to offer in innovation continuity loans to SMEs for innovative late stage projects. The aim of this competition is to provide loans to help SMEs to undertake game-changing innovations with strong commercial potential across any sector or industry. Innovation continuity loans offer affordable, patient, flexible, repayable funding for later-stage research & development projects with a clear route to commercial success. More information can be found here.