Innovate UK Investor Partnerships: SME round 8

Apply for grant funding alongside private investment

Innovate UK has partnered with investors to offer businesses support for research and development, and access to funding necessary to bring their innovations to market.

These investor partners have shown they're ready and willing to invest in innovative, tech-driven businesses that match Innovate UK's goals.

Round 8 - specific themes

The funding available under this round of the programme is limited, so only two specific themes are in scope:

• Creative Catalyst - creative industries, underpinned by innovative digital technology or sustainable innovations
• Mindset - extended reality (XR) for digital mental health

The investor partnership website details the themes supported in the programme, including those mentioned above, along with available funding.

Eligibility

Innovation and ideas can come from anyone and anywhere. Diverse applicants and inclusive project applications are encouraged.

Your proposal must have a clear route to market, a clear link to innovation and evidence that you can create a team to deliver your proposal.

This competition is open to single applicants only. To apply, your organisation must be:

• registered in the UK as a micro, small or medium-sized business (SME) by the time the award is contracted
• able to complete the aligned investment led by the investor partner needed to qualify for the award, through the issue of new shares or convertible debt

You must also demonstrate that if your project is funded, it will:

• have significant market impact
• be scalable
• be attractive to equity investors

Further eligibility criteria will depend on your research category.

Additional requirements

Innovate UK can help you prepare for investment and connect you with the right investors through:

• Innovate UK Business Growth
• Innovate UK Business Connect
• Catapult Network centres - for sector-specific connections

Before applying for funding, you must establish a relationship and investment interest with one of Innovate UK's approved investor partners. You will need confirmation from the investor partner that you are in a position to apply for grant funding.

You will only receive grant funding from Innovate UK if you also receive aligned investment directly, led or catalysed by the investor partner identified in your application.

Find out more about the Future Economy Investor Partnerships SME: round 8.

First published 25 June 2024