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Innovation loans from Innovate UK

Innovate UK has up to £10 million in innovation loans for UK SMEs' late-stage manufacturing and materials projects.

Innovate UK is to offer up to £10 million in loans to micro, small and medium enterprises (SMEs) for innovative manufacturing or materials projects.

The aim of this competition is to provide a loan which will help SMEs increase manufacturing readiness. This applies to innovations in manufacturing systems, technologies or processes, and/or materials development, properties, integration or reuse.

Proposals should focus on the scale-up of recent or ongoing manufacturing process innovation and/or materials development activities. The project's aim should be to enable UK based companies to progress innovative manufacturing or materials developments to commercial readiness.

Projects should last up to 5 years, of which up to 3 years can focus on research and development (R&D), and up to 2 more years to establish a clear route to commercial success. Loan repayments will be required over a further period of up to 5 years.

Businesses must be able to show that they:

* can cover interest payments
* will be able to repay the loan on time
* need public funding

Loans of between £100,000 and £1 million are available. Projects should last up to 5 years.

Registration for this fund closes: Wednesday 25th April 2018 12:00pm.

For more information please visit:
https://apply-for-innovation-funding.service.gov.uk/competition/116/overview

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Posted 2018-03-23 08:51:31

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