News story

Game-changing ideas for products and services: apply for funding

Businesses can apply for a share of up to £15 million to develop novel products and services, or a further £10 million to work on projects with graduates.

Engines on an assembly line by Hamik at Shutterstock
Engines on an assembly line.

Innovate UK has up to £15 million to invest in great ideas for new innovations in a range of technology and business areas.

Projects must work on disruptive ideas that could lead to new products, processes or sevices that are significantly ahead of others in the field.

They can range from short feasibility studies to longer industrial research or experimental development projects. There must be a potential for commercialisation or economic impact.

Competition information

  • the competition opens on 1 March 2018 and the deadline for applications is 9 May 2018
  • projects must be led by a business working alone or in collaboration with other organisations or researchers
  • we expect projects to range in size between £25,000 and £1 million and to last between 6 months and 3 years
  • businesses could attract up to 70% of their total project costs

Knowledge Transfer Partnerships

Businesses also have the opportunity to apply for a share of a further £10 million for Knowledge Transfer Partnerships (KTPs).

KTPs allow businesses to benefit from a partnership with an academic institution and a recent graduate with relevant expertise to work on a specific innovation project.

The deadline to apply is the same, but the application process is different. You should speak to your local knowledge adviser, who will help you to apply.

Published 12 February 2018