Only the most cutting-edge or disruptive ideas and concepts will qualify. Applications for funding can range from £25,000 - £2,000,000 and projects must have a view to commercialisation. The open competition welcomes applications from businesses within any area of technology, science or engineering, including arts, design, media or creative industries.
Grant funding from Innovate UK is non-repayable, and they do not take any equity, IP or commercial rights over your project. As you can imagine this leads to high levels of competition and only the most outstanding applications receive funding.
You can find full details can be found via the below link;
https://apply-for-innovation-funding.service.gov.uk/competition/188/overview
Chancellor Rishi Sunak has laid out his economic plans for the next twelve months with a range of additional business support measures.
R&D Tax Credits can still be claimed despite previous state funding. However, the amount and type of claim you can make may be impacted.
This January 2021, Innovate UK will invest up to £25 million in the best game-changing or disruptive ideas with a view to commercialisation.