Registrations close for applications for the July 2018 round of Innovation Loans in less than 3 weeks!

Innovate UK is to offer up to ¬£10 million in loans to micro, small and medium-sized enterprises (SMEs). The loans are designed for SME’s with game-changing innovations and a strong commercial potential.

Innovate UK are working to broaden the range of innovation finance support available to businesses, so they can access funding at all stages of innovation. Innovations need different types of funding support depending on how close they are to market. The lack of funding available to innovative businesses at the right time is a barrier to their productivity and growth.

The July 2018 opportunity is an open call meaning proposals can come from any technology (including arts, design, media or creative industries) and any part of the economy.

Projects should aim to develop new products, processes or services (or innovative use of existing ones) believed to be significantly ahead of anything similar in the field.

Registration closes for the open July 2018 strand on Wednesday 29 August at 12:00pm. So don’t delay!

What you can use a loan for

You can use an innovation loan to finance a late-stage research and development project categorised as experimental development.

Experimental development includes:

  • producing plans, arrangements and designs for your products, processes or services
  • developing commercially-usable prototypes and pilots
  • experimental production and testing of products, processes and services

Experimental development does not include routine or periodic changes to products, production lines, manufacturing processes, existing services and other operations in progress, even if such changes may represent improvements.

Apply Now

Find out more about the July 2018 opportunity and how to apply here.

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