Are you an innovator searching for the resources to make your dreams a reality? Myriad Associates is trusted by businesses in all sectors to apply for funding from Innovate UK, helping them turn creative problem-solving ideas into tangible outcomes. Our outstanding win rate speaks volumes about our commitment and capabilities — discover what we can do for you!
We’ve created six simple sections to help you understand how Innovate UK works and whether your business could be eligible for funding.
Innovate UK is part of UK Research and Innovation (UKRI) and is the UK’s innovation agency. They run sector-based funding competitions throughout the year which are open to all innovative businesses, regardless of sector or size.
Funding from Innovate UK offers financial support to businesses, research organisations and charities, enabling them to undertake R&D activity, develop their innovative idea and take it to market successfully. This drives science and technology innovation forwards, which will grow the UK economy.
Eligible Innovate UK projects should aim to develop new products, processes or services, focussing especially on the following R&D categories:
When applying for a sector-based competition, make sure that your project or activity is eligible for the competition you’re entering, as each competition has different criteria.
Also make sure that all past Innovate UK funded projects have been completed fully. They won’t award funding if any previously awarded funding you've received has not been exploited. You will need to submit your application online using the Innovation Funding Service.
“Myriad worked with us to make our Innovate UK application much more specific in terms of what the main selling point was and making it stand out from the crowd. As a result, we won £499,725 of funding from Innovate UK.”
Practice Manager, Trilateral Research Ltd
Investing in a grant application requires careful planning and attention to detail. Our experienced team can provide invaluable support, ensuring your proposal is crafted with precision to give you the best opportunity for success.
There are many pathways to gain the necessary funding for your innovative project - applying for a grant competition is one of them.
Before you apply, make sure that your proposal meets all requirements and qualifications outlined by the respective granting organization. Our experienced team can assess whether or not this opportunity aligns with what you're trying to achieve; don't hesitate to contact us if required!
Once submitted, each application undergoes an extensive evaluation process conducted by professional experts in order to determine its eligibility as a disruptive innovation capable of sparking success on both local and international levels. It's time to put those big ideas into motion – give it a shot!
With Myriad Associates on your side, you can be confident that using our grant application services can give you a significant competitive advantage over other grant applicants.
The proof of this is hard to ignore; we've secured €130m for clients in the last year alone. We're proud to have achieved five top-scoring 15/15 applications too, solidifying us as one of Europe's leading experts at securing grants for businesses like yours.About Myriad Associates
Projects should aim to lead to new products, processes or services (or novel use of existing ones) believed to be significantly ahead of anything similar available in the field. They must focus on commercialisation, growth or scale up.
The competition scope will specify the category of R&D activity for that particular funding opportunity.
Innovate UK supports the following R&D categories:
Each Innovate UK competition will have a different set of criteria that your application will need to meet.
But there are a few general standards that all applications should adhere to:
Make sure the application does not:
The application will be rejected if it:
Has already been submitted for assessment in 2 other competitions
If you are a UK-based business, you can apply for funding. All kinds of business are eligible, from startups to large multi-national corporations.
If you are a UK-based business, you can apply for funding to:
Innovate UK focus their main activities on five strategic themes:
Learn more about these on the UKRI website: https://www.ukri.org/about-us/innovate-uk/our-plan-for-action/
Preparation of an Innovate UK application takes between 150 to 300 hours of work.
You will need the right combination of people to cover the application's key aspects: the technology, market knowledge, commercialisation plan, and financial details.
Only applications that meet the funding competition’s eligibility criteria and scope are sent for assessment. You will be notified if your application is out of scope, with full reasons why.
Applications are assessed by up to five independent assessors, who judge the applications against the same set of scoring criteria. The assessors provide written feedback for each scored question.
All applications are judged on individual merit, with the Innovate UK funder’s panel making the final decision regarding funding.
Some competitions are subject to a ‘portfolio’ approach, to ensure that funds are allocated across the strategic areas in the competition’s scope. All successful applications must meet a quality threshold.
Your Innovate UK application is more likely to succeed if it:
An Innovate UK applications are scored by up to five external assessors who are experts in the area of innovation identified in the application. These experts represent both business and research sectors.
Innovate UK aims to inform you whether or not your project will be funded around 3 months after the submission deadline.
Assessor feedback is provided on all applications. This usually 4 weeks after you are notified of a decision.
For Innovate UK, project costs are only eligible if they are incurred and paid between the project start date and project end date. These claims may be subject to an independent audit. Grants are claimed quarterly, in arrears, and are paid once the required audits and reports are complete.
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Is your business registered for Corporation Tax in the UK or are you a partnership with corporate owners?
Have you developed new or improved existing products, processes or services in the last 2 accounting periods?
Does your business have fewer than 500 staff, and either: A turnover of no more than €100 million; or Gross assets of no more than €86 million?
Sorry, you must be a UK limited company or be a Partnership with corporate owners to be eligible for R&D tax credits.
In order to qualify for R&D tax credits you must be seeking to advance science or technology within your industry. As you’ve not developed any new or improved any existing innovative tools, products or services, and not re-developed any existing products, processes or services in the last 2 years. It is unlikely you have any qualifying activity. If you’re unsure, email or call us and we’ll help clarify.
In order to claim R&D tax credits, you need to either employ staff or spend money on contractors, consumable items and other items. If you’re unsure, email or call us and we’ll help clarify.
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Congrats!! Based on your previous answers, you will qualify for the SME scheme. If you’d like some help maximising and securing your claim, please email or call us.
Congrats!! Based on your previous answers, you will qualify for the RDEC scheme. If you’d like some help maximising and securing your claim, please email or call us.Speak to an expert Back