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Innovation Loans Future Economy Competition: round 8


Innovate UK is offering up to £2 million in loans to micro, small and medium sized enterprises (SMEs). Loans are for highly innovative late-stage research and development (R&D) projects with the best potential for the future. There should be a clear route to commercialisation and economic impact.


Your project must lead to new products, processes, or services that are significantly ahead of others currently available or propose an innovative use of existing products, processes, or services. It can also involve a new or innovative business model.


You must be able to show that you:

  • need public funding,

  • can cover interest payments, and

  • will be able to repay the loan on time.

The closing date to apply is 8 March 2023.


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