Webcast recording now available: ISCF Commercialising Quantum Technology Investment Accelerator Briefing
Posted on 27/08/2019
As part of the Industrial Strategy the Government will invest in the “Commercialising quantum technologies” Industrial Strategy Challenge Fund (ISCF) to enable the UK to lead the global development and application of quantum technologies. Innovate UK, as part of UK Research and Innovation (UKRI), would like to invite UK registered investors to partner with us. Together we will distribute a share of up to £12m in grants to micro, small or medium-sized enterprises (SMEs) alongside private equity capital. Grant funding is from the Industrial Strategy Challenge Fund.
The aim of this competition is to encourage early private investment in innovative quantum technologies, including products, services and business models. This is phase 1 of a 2-phase competition. The second phase will be open to SMEs to apply for funding.
The investor partners we select will work over a 2-year timeframe after we award funding (approximately March 2020 to March 2022) to:
- identify innovative SMEs developing or exploiting quantum technologies that are suitable for investment but outside your typical risk preference, which might involve changing your target market
- help those SMEs deliver a quantum technologies project, with 50% of the total eligible project costs grant funded and the remaining 50% from equity investment into the business
Over a further 2 years the investor partner will manage any remaining grant deployment to ongoing projects.
We will only offer grant funding to SMEs with research and development projects we consider to be highly innovative.
This partnership approach aims to improve access to the financial and commercial support SMEs need to develop and market innovations in the quantum technology market. Investor partners must provide wider business skills, networks and experience as well as capital investment.
More information can be found online here.
Watch the recording of the event by clicking below: