Innovation loans are a financial product offered by Innovate UK Loans Ltd, a wholly-owned subsidiary of Innovate UK.
Innovation loans are aimed at UK businesses that want to scale up and grow through innovation, developing new or improved products, processes or services. They are for late-stage research and development (R&D) projects only. A late-stage R&D project is one which builds on a new idea but has not yet reached the point of commercialisation.
There will be 5 opportunities for businesses to apply for an innovation loan, with up to £10 million available in each loan competition.
These pilot loan competitions may be:
- themed, where your application will need to fit with specific scope criteria
- open to any type of experimental development innovation project
Innovation loan competitions will be spaced out over 2 years and run to the end of 2019.
More details on the loan competitions will be made available via the link below:Back to News