Loans of between £100,000 and £1 million are available to those who can demonstrate their innovation will deliver its expected outcome
Innovate UK has announced the opening of registration for innovation in infrastructure systems loans. The UK’s innovation agency says the aim of the competition is to offer a loan to help SMEs overcome barriers to scaling up their innovation projects.
Loans of between £100,000 and £1 million are available. They will enable businesses to demonstrate first commercial deployment at scale and take their innovations to market by proving that:
Projects must show significant late stage innovation and clearly show how they are working with end-users and problem owners. Projects should be in one of the priority areas, which are:
Projects should last up to five years, of which up to three can focus on research and development, and up to a further two years are available to establish a clear route to commercial success. Loan repayments will be required over a further period of up to five years.
Businesses must be able to show that they can cover interest payments, will be able to repay the loan on time, and that they need public funding.
Companies have until 10 January 2018 to register and awards will be made on 17 January 2018.
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