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New funding to support small business innovation

Innovate UK has launched a new £10 million innovation loan competition for small and medium-sized businesses. Smaller firms can apply for loans of between £100,000 and £1 million for late-stage R&D projects that develop innovative new products and services. Projects must last up to five years and focus on commercialisation and business growth, as well as deliver a significant economic impact and return on investment. The loan competition is part of a two-year pilot which will provide a total of £50 million in loans for innovation projects that are close to market.

Read more about the loan competition at:
https://www.gov.uk/government/news/support-for-game-changing-ideas-apply-for-an-innovation-loan

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