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What is the Smart Grant?
Smart is the new name for Innovate UK’s ‘Open grant funding’ programme.
Innovate UK will invest up to £25 million in the best game-changing or disruptive ideas with a view to commercialisation.
Applications can come from any area of technology (including arts, design, media or creative industries), science or engineering and be applied to any part of the economy.
Your application must include at least one micro, small or medium-sized enterprise (SME).
Your project must start by June 2020 and end no later than June 2023.
Your project must follow different rules depending on its duration:
- Projects with durations between 6 and 18 months must have total eligible project costs between £25,000 and £500,000. They can be single or collaborative projects.
- Project durations between 19 months and 36 months must have total eligible project costs between £25,000 and £2 million. They must be collaborative projects.
If you want to submit a project between 19 months and 36 months with total project costs between £2 million and £3 million as a permitted exception, you must email email@example.com. You must give full justification at least 10 days before the competition closes. Do not submit your application until we write to approve your request.
What funding is available?
Innovate UK have allocated up to £25 million to fund innovation projects in this competition.
For feasibility studies and industrial research projects, you could get funding for your eligible project costs of:
- up to 70% if you are a micro or small business
- up to 60% if you are a medium-sized business
- up to 50% if you are a large business
For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:
- up to 45% if you are a micro or small business
- up to 35% if you are a medium-sized business
- up to 25% if you are a large business
The competition provides funding for innovation research and development (R&D) from feasibility (including market research), through to technology or prototype testing and development stages up to (but not including) commercialisation.
Applications can come from any area of technology and be applied to any part of the economy, such as but not exclusively:
- the arts, design and media
- creative industries
- science or engineering
Proposals must demonstrate:
- 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
- Competition opens: Thursday 17 October 2019
- Online briefing event - 24 October 2019
- Competition closes: 8 January 2020, 12:00pm
- Applicants notified: Friday 12 March 2020
Interested in applying? Myriad Associates can help
- Win Rate - Myriad Associates’ boast a strong success rate with Innovate UK applications.
- Winning Application - February 2019 Smart Grant winners. In the last round of Smart Grants, we had a 100% success rate.
- Honest & Trustworthy – We will not waste your time or money. If we feel your application won't succeed, we will tell you before we undertake the application process.
- Maximised Application - Benefiting from our expert grant writers will ensure your claim is maximised.
- Risk-free Eligibility Call – Call us for a free eligibility call to see if you have an application worth applying for.
Click here to discuss your application with one of our expert grant bid writers or visit Innovate UK to find out more
Where do I find more information?
For more information on this grant, please visit https://apply-for-innovation-funding.service.gov.uk/competition/446/overview
Alternatively, contact us if you'd like to know whether your project would likely qualify for this grant.