Midlands innovation loans competition briefing: Manufacturing and materials readiness
Innovate UK and the Knowledge Transfer Network are hosting a briefing event for Innovate UK’s new innovation loans competition for manufacturing and materials readiness projects, which opens for applications on 26th February.
Innovate UK is running a pilot programme of loan competitions over 2 years to the end of 2019. A total of up to £50 million is available for business innovation projects. Innovate UK is working to broaden the range of innovation finance support available to businesses, so they can access funding at all stages of innovation. Innovation loans are for UK small or medium-sized enterprises (SMEs) that want to scale up and grow through innovation, developing new or improved products, processes or services. They can be used for late-stage research and development (R&D) projects, which have not yet reached the point of commercialisation.
Innovate UK is to offer up to £10 million in loans to SMEs for innovative manufacturing or materials projects. The aim of this competition is to provide loans to help SMEs increase manufacturing readiness. Innovation loans will offer affordable, patient, flexible, repayable funding for later-stage research & development projects with a clear route to commercial success. More information can be found here. The competition scope will cover innovations in:
- manufacturing systems, technologies or processes, and/or
- materials development, properties, integration or reuse.
Proposals should focus on the scale-up of recent or ongoing manufacturing process innovation and/or materials development activities. The project’s aim should be to enable UK based companies to progress innovative manufacturing or materials developments to commercial readiness.
The deadline for registration for the competition is 25 April and the application deadline is noon on 2 May 2018. You can find out more about the competition here.
The purpose of the briefing event is to provide vital information to enable businesses to decide if an innovation loan is appropriate for them and, if so, to develop a clear and compelling application that shows that they have an innovative project and are suitable for a loan.
09:30 – Registration and refreshments
10:00 – Welcome & Introduction
10:05 – Innovate UK and innovation loans overview
10:20 – Competition scope and Q&A
11:30 – How to complete Application Part A on your project
12:00 – How to complete Application Part B on your business
12:45 – Q&A
13:00 – Networking lunch
14:00 – Close