New £10m Loan Scheme for SMEs: Open Competition
Innovate UK has launched a new £10m innovation loan scheme for SMEs. The competition is aimed at highly innovative late stage projects, with the best ideas or concepts that can demonstrate an increase in productivity. More information can be found here.
To be eligible, projects should develop new products and services, or highly innovative uses of existing ones, that are significantly advanced of anything currently used. These can come from any technology, and must focus on commercialisation, growth or scale-up. Applications must show:
• A clear game-changing idea
• How the idea can lead to innovative products, processes or services significantly ahead of the current field
• Practical financial plans.
Loans of between £100,000 and £1 million are available per project, and registration closes on 11 September 2019. Interested companies can also hear more from Innovate UK who will be holding a number of briefing events this month on the loan application process. For details and to register, click here.
