Innovate UK, part of UK Research and Innovation, is investing up to £25 million in game-changing and commercially viable R&D innovations
Innovations must be genuinely new, with significant potential for swift, successful commercialisation. Proposals must be business-focused, with deliverable, realistic, adequately resourced plans to achieve return on investment, growth and market share following project completion. Applications can come from any area of technology and be applied to any part of the economy.
The eligibility criteria for the Smart January 2024 round of the competition are different to previous rounds of the Smart grant.
Projects of 6 to 18 months must have total eligible project costs between £100,000 and £500,000 and can be single or collaborative. Projects of 19 to 24 months must have total eligible project costs between £100,000 and £1 million and be collaborative.
Your application must include at least one micro, small or medium-sized enterprise (SME) as the lead or a collaborative grant claiming partner.
To be in scope your proposal must demonstrate, among other things:
- a ground-breaking and innovative idea for brand new products, processes or services
- an idea that is significantly different from already available products, processes or services globally
- an idea that is set for rapid commercialisation following project completion
- clear potential to positively impact the UK’s position, productivity and competitiveness
The competition closes at midday on Wednesday 24 April 2024.
Potential applicants can join an online briefing event on Thursday 25 January 2024 to find out more.
Under the Smart Grants programme, Innovate UK will fund feasibility projects, industrial research projects and experimental development projects, as defined in the guidance on categories of research