Innovate UK have allocated up to £2million to fund innovation projects in this competition.
If your organisation’s work on the project is mostly commercial or economic, your funding request must not exceed the limits below. These limits apply even if your organisation normally acts non-economically.
For feasibility studies, 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
The research organisations undertaking non-economic activity as part of the project can share up to 50% 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 projects that are:
- Exclusively related to atomic clock development
- Exclusively related to the Global Navigation Satellite Systems (GNSS)
- Dependent on export performance – for example giving a subsidy to a baker on the condition that they export a certain quantity of bread to another country
- Dependent on domestic inputs usage – for example if it was insisted that a baker use 50% UK flour in their product
Projects which involve the integration of atomic clocks or GNSS into timing systems would be in scope.
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.