Specialist R&D Tax & Grant Funding Advisors

Innovate UK

Innovate UK, the UK’s innovation agency, runs funding competitions which can help you develop your innovative idea and make it successful. Innovate UK funding competitions provide funding between £25,000 and £10 million.

Innovate UK

Innovate UK Explained

What is Innovate UK?

Innovate UK is the UK’s innovation agency. They drive productivity and growth by helping businesses realise the potential of developing new technologies, ideas and making them a success.

Innovate UK aim to invest around £500 million in the financial year 2017/18 both in competitions and in innovation infrastructure that allows business to access leading-edge expertise, equipment and facilities.

Innovate UK offers sector-based competitions that run throughout the year. There are also funding competitions and programmes open to all innovative businesses, regardless of the technology and sector in which they are working. These open competitions run bi-monthly.

In general, the further away from commercialisation your project is, the more funding you can receive from Innovate UK. Award-winning projects will have global opportunities that draw on unique strengths from the UK.

What types of businesses should apply for Innovate UK grant funding?

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.

Is your innovation ready for you to apply for Innovate UK grant funding?

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.

What are the project topic areas for the Innovate UK?

In 2018-2019, Innovate UK has funding competitions across four industry sectors:

  • AI & Data Economy – technologies and capabilities that will put the UK at the forefront of the AI and data revolution
  • Clean Growth – maximising the advantages for UK Industry through the development, manufacture and use of low carbon technologies, systems and services
  • Future of Mobility– changing how people, goods and services move around the UK
  • Ageing Society – technologies, products and services that harness the power of innovation and help meet the needs of an ageing society

The open programme accepts applications from any company in any sector of the UK economy.

The Innovate UK Grant Application Process

How long does it take to prepare an Innovate UK application?

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 applications’s key aspects: the technology, market knowledge, commercialisation plan, and financial details.

What's the Innovate UK evaluation process?

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.

What's the success rate of Innovate UK applications?

As Innovate UK has recently changed the way that they work and has introduced a new grant funding competition structure for 2016-2017, there is not currently any information available about the success rate of applications.

What type of Innovate UK applications are likely to succeed?

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

Who evaluates an Innovate UK application?

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.

How long does it take to receive a decision from Innovate UK?

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.

How is Innovate UK grant money paid?

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.

How Myriad Associates Can Help

Why choose Myriad Associates as your specialist R&D grants funding advisor?

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.

We assess your chances of success

We hold a workshop session with you

We help you prepare your grant application

We submit your grant application

We help you comply with the conditions of your grant

We take care of your application from start to finish

Project Assessment – Initial consultation to discuss your project and assess its chances of success (up to 1hr free consultation) 

Workshop Session – Our specialist consultants discuss all the relevant technical, commercial, and financial details of your project with you during a workshop session. We then generate a gap analysis & allocates tasks accordingly.

Grant Writing – We will provide you with full access to our grant templates & optimise your application to maximise your chance of success.

Submission and Feedback – We complete the online registration process and submit the grant application on your behalf. Grant assessors provide feedback on both successful and unsuccessful grant applications, and we review this feedback with you to give you on-going advice and guidance.

Compliance and Monitoring – When your grant application is approved, we can help you prepare & complete all documentation requests from the grant body.

You can download our information sheet on Innovate UK grants.

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