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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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