GBSLEP
Back to all business support programmes

Innovation loans September 2018 open competition



Type:
Innovation
Sector:
All
Area:
GBSLEP
GBSLEP and Others
Description:

Innovate UK is to offer up to £10 million in loans to micro, small and medium-sized enterprises (SMEs). Loans are for highly innovative late stage projects with the best game changing and/or disruptive ideas or concepts. There should be a clear route to commercialisation and economic impact.

Projects should aim to develop new products, processes or services (or innovative use of existing ones) believed to be significantly ahead of anything similar in the field.

Your proposal can come from any technology (including arts, design, media or creative industries) and any part of the economy.

Projects must focus on commercialisation, growth or scale up. Priority is given to proposals likely to lead to growth, gains in productivity and/or access to new overseas markets through export.

Projects should last up to 5 years, of which up to 3 years can focus on late stage research and development (R&D), and up to 2 more years on establishing a clear route to commercial success. Loan repayments will be required over a further period of up to 5 years.

Businesses must be able to show that they:

  • can cover interest payments
  • will be able to repay the loan on time
  • need public funding

Funding type

Loan

Project size

Loans of between £100,000 and £1 million are available. Projects should last up to 5 years and are expected to start by March 2019.



Register Your Interest...


Interested or want to know more? Then please enter your details below and one of our friendly business support team will be in touch.

By providing your data you are agreeing to the Growth Hub and/or its partners contacting you for the purposes of providing relevant advice and information.