Welcome to the May 2024 issue of Grants Watch.
Compiled by GrantTree’s grant writing experts, Grants Watch is a monthly summary of grant funding opportunities for UK businesses.
In this edition, we’re looking at a competition focused on enhancing the UK’s energy grids, plus four schemes offering funding to companies in a wide range of sectors.
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If you want an unbiased, no-commitment assessment of your eligibility for any of the competitions in this issue of Grants Watch, just get in touch.
Our grants team will be happy to tell you whether your project is a good fit and explain how likely you are to win funding.
Digital Twin Energy Grids
Funding available: Up to £300,000
Deadline: 24 May 2024 at 11 am
This Innovate UK competition will fund the development of digital twins that will help to make the UK’s energy network more resilient against cyber attacks.
Projects must start by 1 October 2024, end by 30 September 2025, and last six to 12 months.
To apply, you must be a UK-registered SME or work with one. You must also collaborate with at least one other UK-based organisation.
Innovate UK is encouraging applicants to consider partnering with a project funded by its Building a Secure and Resilient World scheme.
Future Leaders Fellowships: round 9, business and non-academic
Funding available: Up to £3 million
Deadline: 25 June 2024 at 11 am
UKRI is offering at least four years of funding to allow individuals to pursue “ambitious programmes of innovation” that solve novel and difficult challenges.
Designed to cultivate the next generation of innovation leaders, this competition will also provide Future Leaders Fellows with a range of opportunities and resources to help them become a leader in their field.
Prospective leaders must be based at, or have support from, an eligible non-academic host organisation. A host organisation must be a UK-registered:
- Agri-tech centre
- Business
- Catapult
- Charity
- Eligible research organisation
- Public organisation
Applications must be submitted by host organisations. Projects must start on or after 1 September 2025.
Innovate UK Innovation Loans Future Economy: Round 15
Funding available: Up to £2 million
Deadline: 26 June 2024 at 11 am
While technically not a grant competition, Innovate UK’s Innovation Loans scheme, the fifteenth round of which will open on 2 May, is an excellent source of financing for late-stage R&D projects.
The scheme offers loans of between £100,000 and £2 million with attractive terms such as a deferred, below-market interest rate of 3.7% during project execution.
In addition, unlike many grant competitions, you can acquire an Innovation Loan covering up to 100% of your project costs.
To apply, you must be a UK-registered SME who’s in a position to take out a loan.
Innovate UK Investor Partnerships: SME round 7
Funding available: £900,000
Deadline: 19 June 2024
The seventh round of the Innovate UK Investor Partnerships competition has just opened.
This popular competition is designed to help UK SMEs develop and commercialise their innovations by providing sizeable funding in the form of equity investment from a curated list of private investors and an Innovate UK grant.
The equity investment you are securing must be at least equal to the grant funding.
Innovate UK Smart grants: April 2024
Funding available: Up to £700,000
Deadline: 24 July 2024
Innovate UK’s Smart grants competition is a highly competitive scheme designed to help cutting-edge SMEs drive projects towards commercialisation.
Unlike most competitions, Smart is industry-agnostic, meaning businesses from any sector can apply, so long as your project is innovative enough.
To apply for Smart, you must be:
- A UK SME or working with one
- Working on a disruptive project
- Start your project by 1 January 2025
- Carry out all project work in the UK
- Intending to exploit the results of your project here
Let our experts explain your funding options
If you want to know whether you’re eligible for any of the grants listed above, our team is here to help.
Using their decades of experience winning funding from Innovate UK and other prestigious bodies, they can give you a free, unbiased assessment of your eligibility and suitability for grants.
To book your eligibility consultation, just get in touch.
