Welcome to the October 2023 edition of Grants Watch, GrantTree’s regular roundup of grant funding competitions open to innovative UK businesses and organisations.
In this instalment, we’re looking at competitions targeting a wide range of sectors, including telecoms, life sciences and agriculture. We also feature the latest round of Smart, a generous Innovate UK grant open to companies in any sector.
To receive the latest copy of Grants Watch straight to your inbox and stay up to date with your funding options, make sure you sign up for our monthly newsletter!
And if you want to find out whether your organisation is eligible for any of the grants listed below, just get in touch. GrantTree’s experts would be more than happy to provide a free, no-commitment consultation.
Subscribe to GrantTree's Newsletter
Get all future editions of Grants Watch – plus all the latest on UK funding and innovation – delivered straight to your inbox.
AI Solutions to improve productivity in key sectors
Opens – 27 September 2023
Closes – 8 November 2023 at 11:00 am
This Innovate UK competition is offering up to £100,000 for projects supporting AI and ML adoption in transport, construction, agriculture, and the creative industries.
Eligibility summary:
- You must be a UK-registered business
- Your project must last 4-8 months
- Your project must start by 1 April 2024 and end by 31 March 2025
- Subcontractors are not allowed
You can apply for a grant covering between 25% and 70% of your total project costs, depending on the size of your business and whether you’re looking to undertake a feasibility study or experimental development project.
Biomedical Catalyst 2023 Round 2
Opens – 20 September 2023
Closes – 8 November 2023 at 11:00 am
Innovate UK has just launched Biomedical Catalyst 2023 Round 2, offering up to £2 million to companies developing groundbreaking medical devices, therapies, and digital health solutions.
Eligibility summary:
- You must be a UK-registered small or medium-sized business (SME) or collaborating with one
- You must be working on a cutting-edge medical R&D project like advanced therapies, digital health or device development
- You must be able to deliver a 6-to-36-month project
- You must have eligible costs of £150,000-£4 million
- Your project must start by 1 June 2024 and end by 31 May 2027
Companies can receive funding for up to 70% of their project costs. Costs incurred by academic and NHS trusts (e.g. clinical trials) are 100% funded but can not exceed more than 50% of the overall project spend.
Farming Innovation Programme - feasibility round 3
Opens – 18 September 2023
Closes – 15 November 2023 at 11:00 am
Funded by the Department for Environment, Food & Rural Affairs (Defra), this competition offers up to £350,000 for feasibility studies exploring new solutions to major on-farm and post-farmgate challenges.
If you plan on applying, your proposal must demonstrate how your project will benefit farmers, growers, or foresters in England.
Eligibility summary:
- You must be a UK-registered business to lead a project
- You must collaborate with at least one other UK-registered organisations
- Your project must start by 1 May 2024 and end by 30 April 2026
- Your project must cost £200,000 to £500,000 and last 12-24 months
- You can apply for a grant covering between 50% and 70% of your total project costs, depending on the size of your business.
Innovate UK Innovation Loans Future Economy: Round 11
Opens – 14 September 2023
Closes – 8 November 2023 at 11:00 am
While it isn’t technically a form of grant funding, Innovate UK’s Innovation Loans scheme, the eleventh round of which is now open, can be an excellent way to finance late-stage R&D projects.
Innovate UK Innovation Loans offer between £100,000 and £2 million in debt financing with attractive repayment terms such as a deferred, below-market interest rate of 3.7% during project execution, followed by 7.4%, and repayment terms of up to seven years.
Also, unlike most grants, Innovation Loans can provide funding for up to 100% of your project costs.
Eligibility summary:
- You must be a UK-registered SME
- You must carry out your project and intend to exploit its results from or in the UK
- Your business must be in a position to take on a loan
Find out more about Innovation Loans.
SBRI: Future Telecommunications Challenge
Opens – 6 October 2023
Closes – 23 November 2023 at 11:00 am
The Small Business Research Initiative (SBRI) is offering up to £7 million to help companies develop and commercialise cutting-edge telecom technologies.
You must focus on close-to-market leading solutions that align with the UK’s priorities for improving communication networks’ performance, coverage, security, resilience efficiency, and cost-effectiveness.
Eligibility summary:
- Your project must start by 1 March 2024 and end by 31 March 2025
- It must last 6 to 13 months
- To lead a project, you must be a UK-registered business of any size
- You can work alone or with other businesses, institutions, etc
This competition offers up to 100% funding for eligible projects, meaning you won’t need to self-fund delivery.
Scalable Quantum Network Technologies: Collaborative R&D
Opens – 18 September 2023
Closes – 1 November 2023 at 11:00 am
Innovate UK is offering grants of up to £2.1 million working to remove technological barriers to the commercialisation and adoption of quantum network technologies.
Your project must be led by a UK-registered business of any size or, in ‘exceptional circumstances’, a research and technology organisation (RTO).
Projects must include at least one other UK-registered organisation, such as an academic institution or a charity. If your project is led by an RTO, it must include at least two other UK-registered organisations.
Eligibility summary:
- Your project must cost £1.5 million to £3 million
- You must work with at least one other UK-registered organisation
- Your project must start on 1 April 2024 and end by 30 September 2025
You can apply for a grant covering between 25% and 70% of your total project costs, depending on the size of your business and whether you’re looking to conduct a feasibility study or experimental development project.
Smart September 2023
Opens – 28 September 2023
Closes – 17 January 2024 at 11:00 am
Unlike most Innovate UK competitions, Smart is open to businesses in any sector…so long as their project is innovative enough. The grant is designed to help cutting-edge SMEs secure the funding they need to drive their project towards commercialisation.
Eligibility summary:
- Your consortium must include at least one UK-registered SME
- Your project must be game-changing and disruptive
- Your project must last 6 to 36 months and cost £100,000 to £2 million
- You must start your project by 1 July 2024 and complete it by 30 June 2027
If you’re a business, you’ll receive between 25% and 70% of your project costs funded, depending on your size and what type of project you’re looking to undertake.
Transforming medicines manufacturing - Grand Challenge
Opens – 16 October 2023
Closes – 15 November 2023 11:00 am
Innovate UK is investing up to £4 million in flexible, agile, scalable and sustainable technologies (FASST) across the supply chain for the development and manufacture of medicines.
Projects must have total costs of £2 million to £4 million. You must demonstrate co-investment of at least 100% of the total grant amount.
Eligibility summary:
- Your project must be led by a research and technology organisation or public sector organisation
- Your project must last 24-60 months
- Your project must start by 1 April 2024 and end by 31 March 2026
- Your consortium must include at least two UK businesses of any size, including one SME
Grand Challenges are designed to put the UK at the forefront of new technological trends and technology-driven industries.
Want to know if you're eligible?
That brings us to the end of the October 2023 edition of Grants Watch.
If you want to know whether you’re eligible for any of the grants listed above, GrantTree is here to help.
Our experts can give you a free, unbiased assessment of your eligibility and suitability for these grants and any other relevant competitions currently open in the UK.
To book your eligibility consultation, just get in touch.
