Innovate UK Smart Grants: July 2022

UK registered organisations can apply for a share of up to £25 million for game-changing and commercially viable R&D innovation that can significantly impact the UK economy. This funding is from Innovate UK, part of UK Research and Innovation.

Funding Details
When

Registration Opens

28/07/2022

Registration Closes

26/10/2022

Award

Projects must have total project costs of between £100,000 and £2 million. Up to 70% of costs can be covered.

Organisation

Innovate UK

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Smart is Innovate UK’s responsive grant funding programme. It has focused eligibility criteria and scope to support SMEs and their partners to develop disruptive innovations with significant potential for rapid, economic return to the UK.

Innovate UK, part of UK Research and Innovation, is investing up to £25 million in the best game-changing, and world leading ideas, designed for swift, successful commercialisation. Ideas need to be genuinely new and novel, not just disruptive within their sector.

Your proposal must be business focused, with deliverable, realistic, adequately resourced plans to achieve return on investment, growth and market share following project completion.

Questions for this round of Smart reflect the importance of obtaining economic benefits from public funding, and the potential for successful commercialisation, growth and exports.

Applications can come from any area of technology and be applied to any part of the economy, such as, but not exclusively: net zero, the arts, design and media.

Eligibility

Projects of 6 to 18 months must have total project costs of between £100,000 and £500,000 and can be single or collaborative. Projects of 19 to 36 months must have total project costs of between £100,000 and £2 million and must be collaborative. The Smart Grant can cover up to 70% of project costs depending on the size of your business.

Your project must:

  • start by 1 May 2023
  • end by 30 April 2026
  • include at least one micro, small or medium-sized enterprise (SME) as the lead or a collaborative grant claiming partner
  • carry out all of its project work in the UK
  • intend to exploit the results from or in the UK

To lead a project your organisation must:

Scope

The Smart grant funds a cross-sector portfolio of the best game-changing, and world leading projects. It offers funding where other opportunities are not available or appropriate, and where timing is key to ensure swift and successful commercialisation post-project completion.

To be in scope your proposal must demonstrate:

  • a game-changing, innovative, and disruptive idea that will lead to new products, processes or services
  • an idea that is significantly ahead of others in the field, set for rapid commercialisation
  • clear potential to positively impact the UK’s position, productivity and competitiveness within the global economy
  • a clear, evidence based business plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
  • why Smart funding is the right potential funding for your project, and the journey you have already been on to reach the point of application
  • a team with the necessary skills, and expertise to deliver the project successfully and on time, and to achieve rapid commercialisation
  • awareness of all the main risks the project will face with realistic management, mitigation and impact minimisation plans for each risk
  • sound, practical financial plans and timelines that represent good value for money, including the funding of post-project activities

Specific themes

Your project must focus on:

  • taking customer and user needs into account to deliver more desirable and useful solutions
  • identifying who is ready to buy your innovation
  • being developed, planned and resourced beyond the end of the Innovate UK funded project, taking into account the focus of any project partners and their existing commitments
  • fitting with and complementing your ongoing business planning and development, product offerings and organisational structure to maximise chances of success

An online briefing event will be held on 4th August at 1pm: click here to register.

If you want help to find a project partner, contact Innovate UK KTN.

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