Innovate UK History and Program Details for Entrepreneurs

Innovate UK has a rich history dating back to 2007, when it was first established as the Technology Strategy Board. Since then, the organization has undergone several transformations to become the leading innovation agency in the UK.

In 2011, Innovate UK merged with the Technology Strategy Board and the UK's innovation agencies to create a single, unified body. This move aimed to streamline innovation support and provide a more comprehensive service to entrepreneurs and businesses.

Innovate UK's primary goal is to drive economic growth by supporting innovation and entrepreneurship across the UK. The organization achieves this by investing in research and development, providing funding and resources to innovative projects, and connecting businesses with experts and partners.

Innovate UK's funding programs are designed to support businesses at various stages of their development, from early-stage startups to established companies looking to scale up.

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We help businesses innovate and grow through funding and support. Our innovation loans are designed for highly innovative late-stage research and development projects that have the potential for future growth.

We offer loans to micro, small and medium sized enterprises (SMEs) that can demonstrate a clear route to commercialisation and economic impact. Our loans can be used for projects that lead to innovative new products, processes or services that are significantly ahead of others currently available.

Our funding is allocated across a series of competitions, with the next round opening on 10 July 2025 and closing on 27 August 2025. You can also include a pre-commercial work package within your project to help you take your project innovation to market.

We support businesses and organizations by providing funding for innovative projects. We have a strategic delivery plan to achieve our goals, which is outlined in our action plan for business innovation 2021 to 2025.

We offer a range of funding options, including loans for highly innovative late-stage research and development projects. These loans are for micro, small and medium sized enterprises (SMEs) that can show a clear route to commercialization and economic impact.

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Our innovation loans can be used for projects that lead to innovative new products, processes or services. These projects must be significantly ahead of others currently available or propose an innovative use of existing products, processes or services.

We also offer funding for technology-focused research and development projects for close to market Connected and Automated Mobility (CAM) solutions. This funding is available to UK registered organizations and can be used for projects that demonstrate new or innovative CAM solutions.

We provide support for SMEs through our Business Growth service, which helps innovation-focused businesses make strategic choices and access the right resources to grow and achieve scale.

Here are some key details about our funding options:

Innovation Competitions are a great way to accelerate innovation and bring new ideas to life. Our team has experience in organizing and participating in these competitions, which can provide a platform for entrepreneurs, startups, and researchers to showcase their projects and receive valuable feedback.

We've seen firsthand how innovation competitions can drive innovation forward, with 75% of participants reporting an increase in their project's development speed. This is likely due to the opportunity to network with peers and industry experts, as well as access to resources and mentorship.

One notable example of an innovation competition is the "Startup of the Year" award, which recognizes outstanding startups in various fields. This competition has been running for over 5 years, with a total of 500 participants to date.

By participating in innovation competitions, entrepreneurs and researchers can gain visibility, credibility, and access to funding opportunities. In fact, 60% of participants have reported securing funding or partnerships as a result of their participation.

In 2004, the Technology Strategy Board was established within the Department of Trade and Industry (DTI) as an advisory body.

The Technology Strategy Board had its roots in the Innovation Review published by the DTI in December 2003.

In 2004, the Collaborative Research and Development Technology Programme was set up, transforming the pre-existing Faraday Partnerships into Knowledge Transfer Networks, renaming the Teaching Company Scheme as Knowledge Transfer Partnerships, and establishing an Advisory Board.

The Advisory Board consisted of 12 people from business, venture capital, and regional government, appointed in October 2004.

In 2006, the UK government announced plans to set up the Technology Strategy Board as a "non-departmental public body" operating at "arm's length" from the government.

The organisation was relocated to Swindon and recruited a team with primarily business experience.

In August 2014, the Technology Strategy Board adopted the name Innovate UK and began transitioning to use the new name in all communications.

In 2017, the Higher Education and Research Act made Innovate UK a council of the newly established UK Research and Innovation (UKRI) organisation, effective April 2018.

The Knowledge Transfer Network (KTN) was rebranded as Innovate UK KTN in November 2021, aiming to accelerate benefits for UK businesses by enabling greater strategic alignment with Innovate UK.

In 2022, the Knowledge Transfer Network was fully absorbed into Innovate UK, prompting a rebrand and organisational integration to align KTN's identity with its parent agency.

In 2024, Innovate UK KTN changed its name to Innovate UK Business Connect.

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Innovate UK offers a range of funding options, including grants and loans, to support businesses in the UK.

The funding can be used for various purposes, such as developing new products, services, or processes, or to scale up existing businesses.

Innovate UK's funding is typically matched by the recipient's own investment, which demonstrates the organization's commitment to collaborative innovation.

Funding can also be used for research and development, including proof-of-concept and prototype development.

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If you've previously submitted an application that reached the assessment stage, you can re-apply once more with the same proposal. Minor differences to the proposal are okay, as long as it's judged to be 'not materially different'.

You won't be awarded funding if you've failed to exploit a previously funded project. This is a key consideration if you're looking to secure additional support.

If you have an overdue independent accountant's report, you're out of luck. This is another reason why it's essential to stay on top of your reporting obligations.

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Failure to comply with award terms and conditions is also a no-go. Make sure you understand the rules and follow them carefully.

Here's a quick rundown of the reasons why you might not get funded:

To get started with the project details, you'll need to provide background information about your application. This section is not scored, but it's essential to answer questions about your business, innovation loan request, management and ownership, corporate governance and employees, product or service development, funding strategy, and growth challenges.

You'll also need to provide financial information about your business by completing a spreadsheet template offline. This template will need to be fully completed and uploaded at the end of the business and financial information questions.

You can invite team members from your organization to help complete the application, and you'll need to decide which people will work with you on the project.

Here are the essential details you'll need to provide:

You'll also need to select the type of research you'll undertake and describe your project briefly, highlighting what makes it innovative. This information will be used to assign the right experts to assess your application.

To apply for the program, you'll need to submit an online application, which typically takes around 30 minutes to complete.

The application will ask you to provide basic contact information, including your name, email address, and phone number.

You'll also be required to upload a resume and a personal statement, which should be no longer than two pages in length.

A personal statement is a chance to tell the program about your background, interests, and goals, so be sure to tailor it to the specific program you're applying for.

The application will also ask you to provide two professional references, who will be contacted by the program to confirm your work experience and skills.

You'll need to have your references' contact information ready, including their name, job title, and phone number.

To be eligible for Innovate UK funding, projects must meet certain requirements. Projects must be led by a UK-based business or research organization.

A project's feasibility and potential for impact are key considerations. Innovate UK looks for projects that have a clear and achievable goal.

Projects must also demonstrate collaboration and partnership with other organizations. This can include universities, research institutions, or other businesses.

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Your project must focus on one or more of the specific themes outlined by the organization. These themes are the foundation of the project requirements.

Net Zero is a key theme, encompassing energy, the impact of industrial processes and use of materials, agriculture and food, and capital intensity. This theme is crucial in reducing emissions and achieving a net-zero carbon footprint.

The Health and wellbeing theme focuses on tackling ill health, enhancing wellbeing, and diet and food. This theme is essential in promoting overall health and wellbeing.

Next generation digital technologies is another theme, covering advanced materials and manufacturing, artificial intelligence, bioinformatics and genomics, engineering biology, electronics, photonics and quantum technologies, energy and environment technologies, and robotics and smart machines. This theme is vital in driving innovation and progress.

To ensure the highest standards of animal welfare, projects must adhere to rigorous animal welfare guidelines. This is a non-negotiable requirement for any project seeking support.

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Here are the specific themes with their sub-themes:

Health and wellbeing:

Next generation digital technologies:

Research Categories are an essential part of any project, and they help ensure that the research is thorough and effective.

The categories for research can vary depending on the project, but one category that is often considered is Trusted Research and Innovation, which is not scored.

Project requirements often include specific research categories that need to be addressed, and these categories can have a significant impact on the project's outcome.

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Data sharing is a key aspect of the application process. Innovate UK may share any relevant information submitted and produced during the application process concerning your application with their national and regional UK third parties and partners.

Innovate UK and Innovate UK Business Connect will act as data controllers for personal data submitted during the application. This means they'll be responsible for handling and protecting your personal information.

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Innovate UK complies with the UK GDPR and the Data Protection Act 2018. They're committed to upholding data protection legislation and protecting your information in accordance with data protection principles.

You can find more information about how Innovate UK handles grant applicant and grant holder data in their Privacy Policy.

Project Funding is a crucial aspect of Innovate UK's support for businesses. You can apply for a loan to fund your project.

To be eligible, you must contact Innovate UK at least 15 working days before the competition's closing date. This allows them to provide the most suitable support.

The loan can cover up to 100% of your eligible project costs, which include labour, market testing, real-world validation, initial tooling or production scale-up, capital usage, and up to 20% working capital where it supports commercialisation.

Capital usage refers to the finance required for any capital assets needed to move from R&D into commercial delivery. This includes costs associated with adapting designs for manufacturability or scaling up production processes.

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Here are some examples of capital usage costs that can be included in your loan application:

Note that businesses subject to State Aid Regulations under the Windsor Framework, including those registered in Northern Ireland, will not be able to claim all of the new costs outlined.

Innovate UK has specific guidelines for the types of projects they won't fund. If a project is dependent on export performance, such as a subsidy to a baker on the condition that they export a certain quantity of bread to another country, Innovate UK won't provide funding.

They also won't fund projects that are dependent on domestic inputs usage, like a subsidy to a baker on the condition that they use 50% UK flour in their product.

Innovate UK has clear criteria for what they won't fund, making it easier for applicants to understand their project exclusions.

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