Innovate UK is investing up-to £25m in game-changing innovations in any technology or business sector in the next Smart grant funding opportunity, deadline 8th January 2020.
Projects can be either: (i) between 6-18 months in duration with a total eligible project cost between £25,000 and £500,000 and can be single or collaborative; (ii) between 19-36 months in duration with a total eligible project cost between £25,000 and £2m and must be collaborative.
Criteria for success:
- a clear game-changing, innovative and/or disruptive and ambitious idea leading to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- sound, practical financial plans and timelines
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
- clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
- good value for money, which will always be a consideration in Innovate UK funding decisions
Do get in touch now if you have ideas you wish to explore to access such grant funding. Keystone have secured several grants in this competitive funding Call for clients.