Open grant funding competition: round 2
All proposals must be business focused (rather than pure research). Applications can come from any area of technology, science or engineering, including arts, design, media or creative industries, and be applied to any part of the economy.
Proposals can fit into, or be outside of, one or more of the Industrial Strategy Challenge Fund areas.
Proposals must demonstrate:
- a clear game-changing and/or disruptive innovative idea leading to new products, processes or services
- ideas that are significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays and so on) with realistic management, mitigation and impact minimisation plans for each
- sound, practical financial plans and timelines
- good value for money, which will always be a consideration in Innovate UK funding decisions
- a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion