IUK Smart Grant-Part 1

July 2, 2023

£100k to £2m R&D grant for UK companies

Part 1: Innovate UK has launched their new Smart Grant with deadline on 27.09.23

We are writing two blogs about the recently launched Innovate UK Smart Grant. Blog 1 (this one) has the key information you will need to understand the grant. Blog 2 (IUK Smart Grant-Part 2 | Venturenomix) has some learnings we have taken from writing successful applications to Innovate UK Smart Grants since 2009. Together, the blogs will take 10mins to read and will give you an in-depth basis to understand is Innovate UK Smart Grant right for me.

Innovate UK Smart Grant: June 2023

Are you a UK business eager to elevate your innovation? Seeking funding to turn your ground-breaking ideas into reality? Look no further! In this blog post, we’ll explore Innovate UK Smart Grants and how they fuel growth and spark transformative innovation. Uncover the benefits and insights of Smart Grants, addressing UK businesses’ funding challenges. Discover how these grants provide a solution to accessing funding for game-changing R&D initiatives. Join us as we delve into the main points that make Smart Grants invaluable for ambitious UK businesses.

Key information:

  • Deadline:
    • 27 September 2023
  • Project Length:
    • Projects of 6 to 18 months: £100,000 to £500,000
    • Projects of 19 to 36 months: £100,000 to £2 million 
  • Project Dates:
    • Start by 1 April 2024
    • End by 31 March 2027
  • Collaboration:
    • Collaborative projects are allowed
    • At least one micro, small, or medium enterprise (SME) must be involved as the lead or a collaborative grant claiming partner
  • Scope:
    • Projects can come from any area of technology and be applied to any part of the economy, such as net zero, arts, design, and media Application Deadline: The competition closes at 11am UK time on the specified deadline.

Let’s explore the main points:

  1. Igniting Game-Changing Innovations: Smart Grants fuel UK innovations. They fund transformative R&D projects with the potential to impact the economy. Whether it’s cutting-edge tech, sustainability, or pioneering advancements, Smart Grants power your innovation journey.
  2. Fuelling Commercial Viability: Smart Grants go beyond ideas; they support projects with clear paths to commercial success. By funding tech advancements and commercial viability, they ensure long-term growth and economic impact.
  3. Wide Scope of Technology and Application: Smart Grants welcome projects from all tech areas and sectors. Whether it’s net-zero targets, arts, media, or any industry, they offer a platform to realize your vision and make an impact.
  4. Collaboration and SME Participation: Smart Grants promote collaboration and SME involvement. They foster innovation ecosystems, leverage diverse expertise, and pave the way for cross-sector breakthroughs. Be at the forefront of innovation by leading or collaborating with other organizations.

Find our more

Innovate UK Smart Grants present an incredible opportunity for ambitious UK businesses seeking to revolutionise their industries. By providing funding for transformative R&D projects with commercial viability, these grants empower organisations to drive innovation, achieve sustainable growth, and make a significant impact on the UK economy. 

Here is the link to the Innovate Smart Grant: June 2023.

We have been developing applications on behalf of innovation-led businesses since 2009 and have secured over £100m in R&D grant funding from UK and EU grants. Smart Grant from Innovation UK has been a big part of that success. If you are interested to speak to us about how we can help get your innovation project funded, contact us.