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Grants Watch: March 2024

Welcome to the March 2024 edition of Grants Watch, GrantTree’s monthly roundup of grant funding opportunities open to UK organisations.

This edition includes competitions for companies working in accessibility, biodiversity, and nutrition, as well as two industry–agnostic competitions: Smart and Innovation Loans.

Before you look through the competitions, make sure you subscribe to GrantTree’s newsletter to get the latest edition of Grants Watch delivered straight to your inbox every month.

As always, if you want to find out whether your organisation is eligible for any of the grants listed below, the GrantTree team would be more than happy to provide a free, no-commitment consultation.

To book your consultation, just get in touch!

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Diet and health innovation: Early-stage feasibility projects

Opens – 14 February 2024
Closes – 8 May 2024 at 11:00 am

The diet and health innovation competition will help UK businesses and research organisations to develop innovative food products that support sustained health and well-being.

The competition’s £2.5 million funding pot is provided by Innovate UK and the Biotechnology and Biological Sciences Research Council (BBSRC).

Businesses of any size can apply for this competition, but lead applicants and partners must be members of a Diet and Health Open Innovation Research Club (OIRC) hub.

To qualify, your project must:

  • Be an early-stage feasibility study*
  • Have total costs between £100,000 and £250,000
  • Last 9 to 18 months
  • Start by 1 October 2024
  • End by 31 March 2026

*Feasibility studies are projects that determine whether an early-stage technology works in laboratory or simulated conditions.

Find out more about this competition.

Innovate UK Innovation Loans Future Economy: Round 14

Opens – 7 March 2024
Closes – 1 May 2024 at 11:00 am

While technically not a grant competition, Innovate UK’s Innovation Loans scheme, the fourteenth round of which has just opened, could be an excellent way to finance your late-stage R&D project.

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.

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

Learn more about Innovation Loans

Innovate UK Smart Grant - January 2024

Opens – 18 January 2024
Closes – 24 April 2024 at 11:00 am

Smart is one of Innovate UK’s most popular competitions and is designed to help cutting-edge SMEs drive project towards commercialisation.

Unlike most competitions, Smart is industry-agnostic, meaning businesses from any sector can apply, so long as their project is innovative enough.

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 24 months and cost £100,000 to £1 million
  • You must start your project by 1 October 2024 and complete it by 30 September 2026
  • You must intend to exploit the results of your project from or in the UK

You can apply for a grant covering between 25% and 70% of your project costs, depending on your company’s size and what type of project you’re looking to undertake.

Learn more about the latest round of Smart

SBRI: Accessible solutions for disrupted journeys

Opens –  19 February 2024
Closes – 3 April 2024 at 11:00 am

The Small Business Research Initiative (SBRI) is offering companies a share of £1 million to support the development of accessible and inclusive solutions to disrupted transport journeys. 

Solutions most focus on a targeted user group, helping them to use the UK’s transport networks in a safe and comfortable way by: 

  • Minimising or removing discomfort by providing interim support for possible disruption
  • Making available one or more alternative ways to complete the journey
  • Returning back to the starting point of the journey

Projects must have eligible costs of no more than £250,000, start on 1 June 2024 and end by 31 March 2025. They must deliver user engagement throughout delivery. 

Learn more about this competition

Unlocking nature positive private investment

Opens – 12 February 2024
Closes – 10 April 2024 at 11:00 am

Innovate UK will award grants of up to £500,000 for companies working on projects that enable private investors to participate in nature-positive projects. 

The aim of this competition is to mobilise significant private investment to scale nature-positive solutions. 

Projects must focus on one or more of the following themes:

  • Data, tools, models and metrics, including decision-making tools
  • Environmental monitoring and verification of investments, over time, cost-effectively
  • Insurance or insurability of projects
  • Solutions that help aggregate projects to attract finance

Your project must last no more than nine months, start by 1 September 2024, and end by 1 May 2025. 

You must deliver your project in collaboration with other UK-registered organisations, and your consortium must include at least one UK-registered SME.

Learn more about this competition.

Find out what you’re eligible for

That brings us to the end of the March 2024 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.