The second round of Innovate UK's
Open Programme Funding Competitionof 2018 has opened today.
Do you have a cutting-edge project? Do you have disruptive ideas or concepts with a view to commercialisation? Then you may want to apply to the second round of Innovate UK Open Programme Funding Competition! The application deadline is Wednesday, September 12th at noon, and here is a recap of what you need to know before you start.
Innovate UK has allocated up to £20m and you can apply for any amount between £25k and £2m, depending on the length of your project:
NB: the percentage of the costs covered by the grant will vary depending on the type of research being led and on the size of the applicant(s). For example, the fund will cover up to 70% for the feasibility studies done by small businesses but only up to 60% for those made by medium businesses.
The competition is open to UK-based companies who will carry out the project and exploit the results in the country. If several entities, gathered in a consortium, can apply, all projects must include at least one SME.
To apply for the grant, your project has to:
be a game changer, potentially leading to novel products, services or processes
have a clear market potential
be carried out by a skilled and experienced team
demonstrate an awareness of risks and a plan to mitigate them
include financial plans and timeline
How to apply to the funding competition
Innovate UK has produced a guide to help you through the process.
NB: the application is split into three sections: