A 20(ish) minute guide

Richard Wigley Gary Bridgeman 19 May 2015

UK Innovation Funding

It was to help tackle market failures and innovation bottlenecks the Technology Strategy Board was set up in 2004, becoming independent in 2007 and changing name in 2014. Their role is to help accelerate economic growth through the stimulation and support of business-led innovation. Innovate UK works across business, academia and government, helping companies take concepts through to commercialisation.

This means supporting business innovation through: tackling the barriers to innovation, reducing financial and technical risk, promoting collaboration, helping knowledge exchange, encouraging open innovation, creating a more effective innovation environment, using our convening power and connections to bring different partners together.

£42 Million committed for 2014/15 a 38%

increase in total budget for 15/16

Grant funding distributed via competitive bidding

Administration of _connect online networks

A programme to stimulate innovation and growth in the digital sector, based in Shoreditch Funding competitions, drop-in business advice, knowledge sharing and networking events Innovation contests match start-ups and SME’s with large industry partners Competitions are generally for circa £25k Total funding for the year is £2.3m

Physical centres for innovation that connect businesses with the UK’s research and academic communities, funded through TSB and commercial activity, based across the UK Designed to offer commercial and technical advice, access to facilities, match-make partnerships and contract R&D NOT funding Cell Therapy, Connected Digital Economy, Future Cities, High Value Manufacturing, Offshore Renewable Energy, Satellite Applications, Transport Systems, Precision Medicine, Energy Systems

Small Business Research Initiative, a conduit to connect government departments with innovative start-ups and SME’s Competition based funding with the Government acting as the lead customer Current competitions include; Portable Renewable Energy Generation, The Long Term Care Revolution, Power Take Off Systems for the Wave Energy System Contract values vary from £50k to £2m

Designed to connect innovation communities across the UK, via 16 theme networks and the Knowledge Transfer Partnerships Knowledge Transfer Partnerships facilitate exchange of knowledge between business, academia and graduates. No direct funding is available and the average cost to business is £20k p/a Biosciences, Built Environment, Chemistry, Creative Industries, Defence and Security, Electronics Sensors Photonics, Energy Generation and Supply, Forensic Science, HealthTech and Medicines, ICT, Industrial Mathematics, Materials, Nanotechnology, Resource Efficiency and Environmental Services, Space, Transport

Priority Areas 2015/16: Space / Built Environment / Energy

Agriculture and Food / High Value Manufacturing

Digital Economy / Urban Living

Transport / Health and Care / Biosciences

Advanced Materials / Electronics, Sensors & Photonics

Emerging Technologies / Resource Efficiency

Information and Communication Technologies

80 to 90 competitions this year

£50m allocated to SMART over 6 rounds

Collaborative R&D / Catalyst Funding around 28

competitions, funding between £150k and £2m

Access to funding and finance

What are they looking to fund?Projects not companies

Work that is in the future

Well planned projects with defined outcomes

A large and growing market

Evidence of the ability to match the funding