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Take your innovative project to the next level with a loan of up to £1M

Posted on 09/07/2019

If you are working on a highly innovative late stage project, this might be for you.

Innovate UK is offering loans between £100,000 and £1 million to micro, small and medium sized enterprises. Innovate UK has a total of £10 million to fund innovation projects so your idea/concept needs to be game changing and have a real disruptive element to have a chance to get a loan. You should have a clear route to commercialisation and economic impact.

If you have struggled to access finance from commercial lenders or schemes backed by the British Business Bank, the Innovation Loans scheme aims to provide finance that is affordable, patient and flexible for later-stage innovation projects.

To find out if you are eligible for a loan that will take your business to the next level, click here.

To find out how to apply to be in the running for a loan of up to £1 million, click here.

Projects should last up to 5 years, with up to 3 years that can focus on late stage research and development (R&D), and up to 2 more years on establishing a clear route to commercial success. Loan repayments will be required over a further period of up to 5 years.

You will need to get your application in before Wednesday 11th September (12pm).

Attend a briefing event to find out more about the Innovation Loans Competition

If you have read the eligibility criteria and the information on what type of projects Innovate UK is looking for, the next step is to attend a briefing event in person or online.

23rd July – Brighton

24th July – London (Available via webcast)

25th July – South Yorkshire

30th July – North West England

31st July – Midlands

 

If you are unsure if you should attend a briefing event, click here to read “4 reasons to attend an Innovation Loans Competition briefing event”.

The Innovation Loans Competition is a very popular scheme and briefing events book up fast, so secure your space now by clicking the event of your choice.

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