Innovate UK Smart Grants
Innovate UK is investing up to £25m in the best game-changing and commercially viable innovative or disruptive ideas. All proposals must be business focused.
Smart is the new name for Innovate UK's 'Open grant funding' programme.
Applications can come from any area of technology and be applied to any part of the economy. The funding closes 22nd April 2020.
Applications must include at least one micro, small or medium-sized enterprise (SME) and the project must start no later than October 2020 and end no later than October 2023.
Your proposal must demonstrate:
* a clear game-changing, innovative and/or disruptive and ambitious idea leading to new products, processes or services
* an idea that is significantly ahead of others in the field, set for rapid commercialisation
* a strong and deliverable business plan that addresses (and documents) market potential and needs
* a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
* a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
* sound, practical financial plans and timelines
awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
* clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
* good value for money, which will always be a consideration in Innovate UK funding decisions
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