Travel GuideInnovation grants are programs that provide financial support to organisations and groups that wish to research and develop a concept, product or service, test innovative ideas and/or work in partnership with other organisations.
Instead of borrowing money to fund the birth of certain world-changing ideas, and then having to work on repayment, you can get the desired financing from funding bodies like Innovative UK which provides non-repayable grants.
Their main objective is to provide funding opportunities to businesses that focus on innovations that can bring growth to the economy of the United Kingdom.
Join us as we take a deep look at UK Innovation Grants 2024: All You Need to Know.
UK Innovation Grants 2024: All You Need to Know
Innovate UK Smart Grants 2024
The Innovative UK Smart Grants is designed to assist Small and Medium Businesses (SMEs) and their partners in growing new and revolutionizing ideas with serious potential for quick and lucrative commercialization for the United Kingdom.
As part of UK Research and Innovation, this program is infusing up to £25 million into feasible projects that can produce a return on investment. Projects can either be done individually or collaboratively. It accepts applications from people of diverse backgrounds and is dedicated to giving everyone a fair shake.
Regarding the size of the projects, the ones of 6 to 18 months are expected to have overall eligible project costs of between £100,000 and £500,000 and can either be single or collaborative; while projects of 19 to 24 months are required to have overall eligible project costs of between £100,000 and £1 million and must be collaborative.
Eligibility Criteria
For your project to be eligible for this grant, it must:
- Commence by 1 October 2024.
- Terminate by 30 September 2026.
- Comply with specific rules based on its duration.
- Execute all of its project work in the UK.
- Plan to use the results from or in the UK.
- Include a minimum of one micro, small or medium enterprise (SME) as the lead or a collaborative grant-claiming partner.
To Lead a Project Or Work Individually, Your Organisation Must:
- Be a UK-registered SME if you plan to work individually.
- Be a UK-registered business of any size if your proposal is collaborative.
- Claim grant funding.
- Not be an academic institution.
To Collaborate With The Lead, Your Organisation Is Required To Be One Of The Following UK Registered:
- Academic Institution.
- Charity.
- Business of any size.
- Non-profit organization.
- Public sector organisation.
- Research and technology organisation (RTO).
How to Apply
Visit their official website for detailed information on how to apply.
ESA Business Applications’ Call for Proposals
ESA Business Applications offers funding and support to businesses whose aim is to use satellite navigation, earth observation, and so on to grow new commercial services.
It accepts applications all year round from any sector to find business ideas that are commercially doable, technically achievable, and have to do with either space tech or data.
All proposals are expected to be pertinent to the ESA’s Business Applications programme goals. Funding usually varies according to the project. The program closes on the 31st of December, 2025.
Part of its offerings are:
- Zero-equity funding.
- Technical & commercial guidance.
- Unlimited access to their network of associates.
- Personalised support from a member of the ESA team.
Eligibility
- Any organization located in any of the ESA Member States that are taking part in the programme as specified in the Letter of Invitation in EMITS, may apply.
- Demonstration projects are granted up to 50% of the overall eligible project costs.
How to Apply
Application can be done in one of two ways:
- Through their Open Call for Proposals; and
- Through their Competitive Tenders.
- Regardless of the one you choose, you are required to already be involved in commercial or developmental activities within your target sectors.
Defence and Security Accelerator (DASA) Open Call for Innovation
This is a funding competition that offers bidders a chance to propose innovative ideas, which could be in the form of a concept, product or service, to help improve the defence and security of the United Kingdom.
There are three submission sections here, including:
- Defence Rapid Impact;
- Security Rapid Impact; and
- Innovation Focus Areas.
Your project must be completed by March 2024
Eligibility
Below is how to make your proposal eligible:
- Ensure to fill all sections of the online form when submitting your proposal.
- You must submit a project plan with clear milestones and end products.
- You must disclose any ethical, legal, and regulatory factors within your proposal and explain how the associated risks will be handled.
- You must include prerequisites for access to Government Furnished Assets (GFA).
- You must provide a resourcing plan that shows the nationalities of those proposed research workers that you wish to work on the project.
Funding Costs
Although there isn’t a set funding limit, DASA generally fund bids between £100K – £350K.
SBRI: Decarbonizing Concrete
Financed by Innovative UK, this program is a Small Business Research Initiative (SBRI) competition designed to enable the quick adoption of lower-carbon concrete in a commercial sense. It is a competitive program that ensures interaction between innovation projects and final consumers.
Projects funded can vary in size up to total costs of £500,000. Registration starts on the 8th of January, 2024 and ends on the 4th of March, 2024.
Eligibility
To lead a project, you can:
- Be a business of any size;
- Work alone; or
- Work with others from business, research and technology organisations or the third sector as subcontractors.
For your project to be eligible, it must:
- Commence by the 1st of May 2024.
- End by the 30th of April, 2025.
- Run between 9 months and a year.
- Show how innovations will decarbonise concrete production.
Schedule of the Competition
The competition begins on the 8th of January, 2024, there is an online briefing on the 11th of January, 2024, and the competition closes on the 4th of March, 2024. Feedback is given on the 29th of March, 2024, and applicants are notified on that same day, while contracts are granted on the 1st of May, 2024.
How to Apply
Visit their official website for detailed information on how to apply.
To Summarize:
If the goal of your organization is to peddle innovations and enable market growth, the various UK Innovation Grants 2024: All You Need to Know discussed above might just be the funding opportunity that you have been searching for.
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