Specialist R&D Tax & Grant Funding Advisors

Innovate UK

With a 75%-win rate, whatever sector you’re in, Myriad Associates can help you secure up to £20 million from Innovate UK to develop innovative, problem-solving ideas and bring them to market.

Innovate UK

Guide Overview

We’ve created six simple sections to help you understand how Innovate UK works and whether your business could be eligible for funding.

What is Innovate UK?

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.

What is Innovate UK
What type of projects are eligible for Innovate UK funding

What type of projects are eligible for Innovate UK funding?

Eligible Innovate UK projects should aim to develop new products, processes or services, focussing especially on the following R&D categories:

  • Fundamental research
  • Feasibility studies
  • Industrial research
  • Experimental development

How to apply for Innovate UK funding

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.

How to apply for Innovate UK funding

What are some benefits of applying for Innovate UK funding

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Beat competition

Funding from Innovate UK can help you create and develop your innovative and ground-breaking product, service or process and get it out to market quicker than your biggest competitors.

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Grow your business

Securing funding from Innovate UK will provide you with the opportunity to carry out projects, develop products and processes, or provide services that otherwise, you wouldn’t have been able to do.


Boost credibility

Winning funding from Innovate UK shows customers, competitors and investors that your innovative product, service or process is supported by the government and that your organisation is credible.


Cash injection

An Innovate UK grant will give you financial support, access to capital that doesn’t need to be paid back at a later date and it means you’re not required to  surrender any equity in the business.

“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.”

Hayley Watson

Practice Manager, Trilateral Research Ltd

What’s the process to prepare an application for Innovate UK?

Applying for a grant is a time-consuming and resource-intensive process. With our grant bid writing service, we can work with you to prepare an application that gives your project the best chance of success.

Each grant competition has its own rules and requirements. You need to ensure that your innovation meets the competition scope and that you are eligible to apply. For further guidance, you can contact us to determine whether your applying for the right competition.

Grant applications are usually examined by independent experts in the area of innovation identified in the application. The number of experts scoring the application depend on the grant awarding body.

Award-winning projects will involve breakthrough technologies and disruptive innovations that draw on unique strengths from Europe and provide global opportunities to scale up.

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How can we help?

Myriad Associates have an enviable track record with R&D grant applications. Using our grant application services can give you a significant competitive advantage over other grant applicants.

Our grant bid writers have secured over €130m for our clients in the last 12 months, with another €30m due by the end of 2022. We are very proud to have secured some of the highest scoring applications in Europe, with five of our projects scoring 15/15.

About Myriad Associates
R&D Grants video
  • #1 UK & EU grants team - We employ leading bid writers who write compelling applications.
  • 70% Success rates - Myriad Associates’ boast a near 70% success rate with Innovate UK smart grant applications. This is among the highest success rate in the industry.
  • Templates & tools - Our templates make it easy to collaborate & prepare a winning bid.
  • 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.
  • Unlimited revisions - Our grant writers provide feedback on both successful and unsuccessful grant applications. We review this feedback with you to give you ongoing advice and guidance.

Need help applying for Innovate UK funding?

Speak to one of our senior grant writers to see if your project is likely to win funding.

Get in touch
Grant Figures 2022

Our results

  • €70m in Disruptive Technologies Innovation funding won
  • €97m in Horizon Europe funding won
  • #1 European grants team - We employ leading bid writers who write compelling applications.
  • A complete service - On receipt of your offer letter, we help you with all administrative requirements to ensure prompt receipt of grant funds.

Frequently asked questions

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:

  • Fundamental research: means experimental or theoretical work primarily to gain new knowledge of underlying phenomena and visible facts, without any direct practical application or usage
  • Feasibility studies: means analysis and evaluation of a project’s potential, aimed at supporting the process of decision making. This is achieved by uncovering its strengths, weaknesses, opportunities and threats as well as identifying the resources needed and the prospects for success.
  • Industrial research: means planned research or critical investigation to gain new knowledge and skills. This should be for the purpose of product development, processes or services that lead to an improvement in existing products, processes or services.
  • Experimental development: means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services

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:

  • Deliberately increase word count using punctuation
  • Use unprofessional, aggressive or threatening language
  • Have a notable lack of content
  • Have no clear innovation

The application will be rejected if it:

  • Is the same as, or very similar to, a project that has received public funds previously
  • Is the same as, or very similar to, another application

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:

  • test the feasibility of your idea and make sure it will work
  • create a new product, process, or service, or improve an existing one, through research and development
  • work with other business or research organisations on collaborative projects.

Innovate UK focus their main activities on five strategic themes:

  1. Future economy: what the UK economy will be like in the future
  2. Growth at scale: how companies can grow and scale up
  3. Global opportunities: helping build new supply chains, positioning UK companies as the partners of choice and attracting inward investment
  4. Innovation ecosystem: working with partners to ensure our system offers excellent support for business innovation
  5. Government levers: helping government support business innovation through procurement, standards, codes, regulation and other levers.

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:

  • Shows how the project results in a real innovation and doesn’t replicate products currently on the market
  • Provides a convincing company description which explains why you are more likely to succeed than a competitor
  • Includes a clear and thorough description of the business opportunity, not just a description of the project
  • Demonstrates a clear understanding of the target market, including commercialisation and competitor information

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?

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Have you incurred any R&D costs on staff, contractors and consumables?

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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?

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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.

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