Innovate UK Fast Start

Candidates can apply for up to £50,000 for highly innovative ideas that have a clear route to commercialisation through business growth.

Projects 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. Project’s total costs must be between £25,000 and £50,000.

The aim of this competition is to provide a package of targeted support to enable ambitious UK registered micro and small businesses to reach their potential.

Your proposal must demonstrate how one or more of the seven technology areas outlined in the Department for Business, Energy and Industrial Strategy UK innovation Strategy will be applied to the specific challenge themes outlined below. The seven technologies are: 1) advanced materials and manufacturing, 2) AI, digital and advanced computing, 3) bioinformatics and genomics, 4) engineering biology, 5) electronics, photonics and quantum, 6) energy and environment technologies, and 7) robotics and smart machines.

Innovate UK is particularly interested in proposals which will help you:

-develop both your ambitious idea and your business

-create a new revenue stream, for example new products, services or IP

-evidence and enable your market, funding and commercialisation plans

-show what’s feasible, in helping you decide whether to pursue your idea further

-catalyse further innovation on your path to commercial success

-respond to changing market conditions

Innovate UK reserves the right to fund a variety of projects, called ‘portfolio’ approach. The portfolio criteria are:

-specific challenge themes and technologies

-project durations

-project costs, including demonstrating value for money

-UK regions

This competition is open to single applicants only. To lead a project your organisation must:

-be a UK registered micro or small business

-not have previously been awarded funding from Innovate UK (recipients of Young Innovators and Women In Innovation awards are exempt from this and are eligible to apply)

-carry out its project work in the UK

-intend to deliver the proposed outcomes from the UK for domestic or global benefit.

Applicants willing to get in touch with Innovate UK can do it by following this link, and further information about the application process is available here.