Innovate UK have allocated up to £1billion to fund capital focused projects in this competition.
Capital investment projects
Capital investment projects will be managed through the BEIS Central Grants & Loans Team. For capital investment projects the grant available is dependent on the proposed project and will be determined during the second stage of the application process.
The grant requested should be the minimum required to ensure sustainability of the investment. Further information on the process will be provided at the full stage.
Industry led research projects
For industry-led projects, your total grant funding must not exceed 50% of your total eligible project costs. This is regardless of the individual partners’ grant claims. Of that 50%, you could get funding for your eligible project costs up to:
- Up to 70% if you are a micro or small organisation
- Up to 60% if you are a medium-sized organisation
- Up to 50% if you are a large organisation
The research organisations undertaking non-economic activity as part of the project can share up to 30% of the total eligible project costs. If your consortium contains more than one research organisation undertaking non-economic activity, this maximum is shared between them.
Of that 30%, research and technology organisations in the consortium could get funding for their eligible project costs of up to:
- 80% of full economic costs (FEC) if they are an academic institution
- 100% of their eligible project costs if they are an RTO
Innovate UK are not funding capital investment that:
- Includes investment in final electric vehicle assembly at original equipment manufacturers (OEM)
- Is related to charging infrastructure
- Supports retail and wholesale fuel supply
- Focuses primarily on use of digital or data technologies such as simulation
- Supports speculative site enabling projects
Innovate UK are not funding R&D dedicated to:
- Software development
- Product or process development which is at prototype or early proof of concept stage
- Low-carbon fuels development
Cresco Innovation works with companies to develop and implement innovation strategies. We help client companies identify opportunities to develop new products and services, and then create a package of support to ensure that the idea is turned into a commercial reality.
Our services include securing grants (as a team we have raised around £40million over three years), business planning, IP advice, access to finance and funders, project management and IP commercialisation support.
We regularly act as the interface with the funding bodies and help clients ensure that their projects are properly managed to ensure the best outcome for all.