Innovate UK have allocated up to £22million to fund innovation projects in this competition.
If your organisation’s work on the project is commercial or economic, your funding request must not exceed the limits below. These limits apply even if your organisation normally acts non-economically.
For industrial research projects, you could get funding for your eligible project costs of:
- 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
For experimental development projects which are nearer to market, you could get funding for your eligible project costs of:
- Up to 45% if you are a micro or small organisation
- Up to 35% if you are a medium-sized organisation
- Up to 25% if you are a large organisation
Research organisations can claim 100% of their total eligible project costs.
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.
Innovate UK are not funding:
- Fundamental research, feasibility studies or proof of concept projects
- Projects that are not collaborative
- Projects that are not industry led
- Projects that focus on product development which do not focus on design for manufacture and supply chain development
- Projects that do not develop capability that will enhance UK PEMD supply chains
- Projects that do not demonstrate a credible return on investment
- Projects focused around batteries
- Projects dependent on export performance
- Projects dependent on domestic inputs usage
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.