Businesses can apply to share £8.5 million from Innovate UK to fund feasibility studies

Posted on 18 April 2017 (Permalink)

Businesses can apply for a share of £8.5 million from Innovate UK to fund feasibility studies in health and life sciences or infrastructure systems. 

This is a pilot programme for Innovate UK. It provides simultaneous grant funding and venture capital investment for early stage projects led by UK companies.

Up to £3 million of grant funding and £1.25 million of private equity investment alone is available for projects related to health and life sciences. This includes health, agriculture and biosciences.

Innovate UK expects projects to have total costs of up to £150,000. The programme will provide 100% of project costs. Projects should last between three and 12 months. The competition is open to single small and medium-sized enterprises (SMEs) who are looking for early stage grant funding and who wish to establish an equity relationship with a UK venture capital firm.

The competition opens on 8 May, you must register before midday on 28 June and you must apply before midday on 5 July. For more information, go to the UK Government website