AI Website CreatorWe can help with your application so that you have the best possible chance of being awarded an Innovation Loan
We help UK businesses identify, apply for and manage Innovate UK grants, Innovate UK loans and many other grants, including various EU grant funding opportunities.
Any business or organisation investing time and resources into research and development (R&D), product or service development in the UK can enter UK/EU grant funding competitions to provide funds to bring their innovations to market.
We have than 10 years of success securing nearly £70m of funding, shaping, crafting and winning Innovate UK grant competitions and Innovate UK Loan competitions for our own companies as well as for our clients.
We understand how the process works to help make your application so that it has the best chance of winning.
We can provide support during every step of your grant funded journey to develop and bring your innovations to market and profit from them.
If you are interested to secure Innovate UK grant support for your innovative business, contact us today for an informal chat.
Fact finding to get insight into your business and activity, understand your objectives
We identify potential grant funding calls which can work for you
Scope out a project plan and a budget for the grant application
We write a compelling grant application
Your application is submitted to Innovate UK
You receive your decision from the funding body
Like grants, the process is competitive. The assessors look at the quality of your innovations, your route to commercialization, and the economic and social impacts of your project, similar to grants. There is also an assessment by a team of credit analysts who will look at the financial aspects of your application both from the perspective of your business financials now and where they could be following your project.
Innovate loans are attractive as they can cover up to 100% of eligible project costs, which can mean substantial financial support for innovative projects (up to £2m). They are made on generous terms, offering below-market interest rates during project execution (3.7%), during which time only the interest needs to be paid quarterly, with a rate of 7.4% during the loan repayment period. The total term, including execution and repayment, can be up to seven years.
They are designed to support late-stage research and development projects with strong commercial potential, helping businesses bring new products, processes, or services to market.
These loans are particularly advantageous for projects requiring significant capital expenditure, like a pilot plant or demonstrator units.
Innovation loans are often more accessible than grants for the right applicant with the right innovation project, making it easier for businesses to secure funding.
For innovation loans, your project will be a highly innovative late-stage research and development (R&D) project with the best potential for the future. There must be a clear route to commercialization and economic impact.
Your project must lead to innovative new products, processes, or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes, or services, and which you can demonstrate have a high chance of achieving commercial success. It could also be a new or innovative business model.
Your project must focus on one or more of the future economy areas included in the Innovate UK plan for action.
You will also need to demonstrate that you:
1. Need public funding to undertake your project
2. Can cover the interest payments
3. Will be able to repay the loan on time
If you are successful with your application, the project is managed and monitored in a similar way to grants. We can provide assistance with this if required.
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