Innovate UK seek investor partners to invest in high growth potential micro to medium enterprises that aspire to:
- Develop internationally competitive products, services, or business models by reducing energy or resource consumption
- Make the foundation industries more competitive through the use of cleaner energy or reduced consumption of materials and resources
- Address the transforming foundation industries themes in the Industrial Strategy Challenge Fund
The ISCF definition of Foundation Industries includes cement, ceramics, chemicals, glass, metals, and paper.
The SMEs will be identified by the investor partners and selected in a later competition.
Your organisation must be an equity provider with the potential to act as lead investor in investments from £50,000 to £2million.
Innovate UK aim to appoint several investors, interested in making investments aligned with Innovate UK grants. Investments must be either direct equity or convertible loans.
You must also be able to offer other commercial acumen to SMEs, such as:
- Market access
- Skills or resources
You do not have to make any funding commitment at this stage. Innovate UK will need your commitment to provide aligned investment where Innovate UK offers grant funding to successful applicants in the SME competition.
You must be able to demonstrate that your organisation is of good financial standing.
Innovate UK are looking for mix of UK established investors with an interest in foundation industries, including venture capital, angel networks, and corporate venture investors.
Your organisation must demonstrate it has the capability, capacity and investment appetite to fund individual SMEs that aim to achieve the ‘environmentally sustainable’ objectives of the ISCF Transforming Foundation Industry Challenge.
Innovate UK’s preferences
Innovate UK are particularly interested in investors who:
- Are willing to act as sole investor or be the lead investor where additional co-investment is required
- Are prepared to deploy their investment with a patient and long-term view
- Can follow their investment and potentially provide more financing when required with an aspiration to fund or leverage total investment of up to three times the original grant funding by 2025
- Can commit to helping the SMEs with international aspirations to grow and scale up
- Have relevant sector or technology-specific expertise around making the UK internationally competitive, in manufacturing products vital for our economy, in an environmentally sustainable way