Innovate UK – Investment Accelerator Pilot
Competition Opens on 8th May 2017
Register before midday on 28th June 2017
Apply before midday on 5th July 2017
Innovate UK is accelerating innovation with public and private investment in a new pilot programme which provides simultaneous grant funding and venture capital investment for early stage feasibility projects. UK businesses can apply for a share of £8.5 million in grants and venture capital investment.
This competition aims to bring private investors into Innovate UK grant-funded companies earlier. It should give applicants greater confidence that investment will continue, remove the need to chase additional investment and match funding, and award direct access to commercial acumen and market opportunities.
There is £3 million of grant funding and £1.25 million of private equity investment for infrastructure systems projects, including:
– smart infrastructure
– energy supply and systems
– connected transport
– urban living
Health & Life Sciences
A further £3 million of grant funding and £1.25 million of private equity investment is available for projects related to health and life sciences, including:
– advanced therapies
– medical technology
– digital health
Innovate UK is looking to fund innovative high-risk projects and invest in companies that have real potential for growth. Single small and medium-sized enterprises (SMEs) can win full project costs up to £150,000 for early stage feasibility studies. Projects should last up to 12 months.
Innovate UK will assess applications using the standard assessment process whilst investors will use their own assessment techniques. Both Innovate UK and the investor partner must identify a project as fundable before a grant is offered.