SME R&D Grants

19/05/2020

Innovate UK’s Grants and Loan Scheme

The Government has promised £750m worth of grants and loan funding to help innovative small and medium-sized businesses focusing on research and development and will be available through Innovate UK’s grants and loan scheme.

  • Innovate UK will accelerate up to £200m of grant and loan payments for its 2,500 existing customers on an opt-in basis.
  • Around 1,200 firms not currently in receipt of Innovate UK funding will be offered £175,000 of support.
  • An extra £550m will also be made available to increase support for existing customers.
  • The first payment will be made by mid-May

This package builds on the Government’s existing support for innovative, high-growth firms including:

  • The £2.5 billion British Patient Capital fund
  • The upcoming £200 million Life Sciences Investment Programme
  • Internationally competitive R&D tax reliefs

Major commitments to increase public R&D spending to £22 billion by 2024-25.

Prydis

This article was written by Prydis

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