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Competition opens: Monday 24 September 2018
Competition closes: Wednesday 14 November 2018 12:00pm
Award: Duration between 6 and 18 months: total eligible project costs between £25,000 and £500,000. Duration between 19 and 36 months: total eligible project costs between £25,000 and £2 million. All projects must start by 1 April 2019 and end by 1 April 2022.
Innovate UK, as part of UK Research and Innovation, will invest up to £20 million in the best cutting-edge or disruptive ideas with a view to commercialisation.
All proposals must be business focused, rather than pure research. Applications can come from any area of technology, science or engineering, including arts, design, media or creative industries, and be applied to any part of the economy.
Proposals can fit into one or more of the Industrial Strategy Challenge Fund areas. We are also happy to accept applications that fall outside of these areas.
To be in scope, your proposal must demonstrate:
- a clearly game-changing and/or disruptive innovative 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 team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays and so on) with realistic management, mitigation and impact minimisation plans for each
- sound, practical financial plans and timelines
- good value for money which will always be a consideration in Innovate UK funding decisions
- 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
- clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
Click here to apply
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