One of the support tools that we provide for our Innovation Community is our free, easy-to-use, Funding Finder. We’ve compiled a list of some of the top funding opportunities available to innovators and SMEs, this month.
If you’re interested in exploring any of the opportunities below further, simply visit our Innovator Support page, log in to the Funding Finder and search for the programme to find out more.
1. ISCF Transforming Foundation Industries: Building a Resilient Recovery Competition
UK registered businesses and research and technology organisations (RTOs) can apply for a share of £8 million in grant funding for projects supporting recovery and growth of the UK’s foundation industries.
Value: IUK has allocated up to £8 million to fund innovation projects in this competition. Projects must have total eligible costs between £100,000 and £1 million. They should start by 1 April 2021 and last between 3 and 12 months.
2. COVID-19 Recovery Grants for England's SMEs
Small and medium-sized enterprises (SMEs) in England can access government funding to help them get back on track following a period of financial hardship and a reduction in trade as a result of the COVID-19 pandemic and resulting economic downturn.
Value: Funding will be allocated to Growth Hubs within each Local Enterprise Partnership (LEP), with a minimum of £250,000 for all LEP areas. The allocation of resources will be reviewed as the grant fund is delivered. SMEs will be awarded grants of between £1,000 and £5,000 to help them access new technology and other equipment as well as professional, legal, financial or other advice to help them get back on track.
3. The Sustainable Innovation Fund: Round 2 (De Minimis) Competition
Funding is available for UK businesses, working alone or with academic institutions and RTOs as subcontractors, for projects focusing on sustainable economic recovery amongst all sectors following COVID-19.
Value: IUK has allocated up to £26 million to fund innovation projects in this competition. A project's total eligible costs must be between £50,000 and £100,000.
4.#GrowMySME Grants Programme
The #GrowMySME programme is offering two grants, available for SME businesses in Hull, East Yorkshire, North or North East Lincolnshire, to help cover the cost of working with experts that can help a business grow towards normality, following the coronavirus (COVID-19) outbreak. Support can be accessed for professional advice to develop a contingency plan, manage a workforce, review supply chains, innovate a business model or prepare information to access finance.
Value: Grant funding of between £1,000 and £5,000 are available is available to help address the impacts of COVID-19.
5. BT Small Business Support Scheme
The BT Small Business Support Scheme is designed to help SMEs across the UK that have been affected by the coronavirus pandemic. It is intended to enable firms to build their recovery and growth following COVID-19 and includes a series of measures aimed at boosting connectivity, cashflow and confidence.
Value: BT is helping small businesses fund the cost of an ultrafast business connection (known as an Ethernet line), by subsidising the total cost by up to £2,500 per customer.
6. Automotive Transformation Fund EoI Competition
UK registered businesses can apply for a share of up to £1 billion for R&D and capital projects that help industrialise the electrified automotive supply chain at scale in the UK.
Value: UK registered businesses can apply for a share of up to £1 billion to fund innovation projects in this competition. Total eligible project costs and project duration must be appropriate and in proportion to the planned objectives and prioritisation of the Automotive Transformation Fund.
7. UK Circular Plastics Flagship Projects Competition - Supply Chain Refill Infrastructure Grant
Grants are available for business-led projects that will trial new interventions to implement plastic refill infrastructure in the UK.
The grants will support proposals that have strong commercial potential to reduce the use of single use primary plastic packaging.
Value: A total of £475,000 will be awarded through grants of between £50,000 and £150,000 for both capital and revenue expenditure.
8. Worcestershire Here2Help Business
A programme to support businesses in Worcestershire affected by the COVID-19 pandemic to recover and grow.
Value: The following grants are available: Graduate Development Support Grant of up to £10,000 to offer a 12-month graduate placement or internship. The grant will cover a one-year period at 50% of the graduate salary costs. Sustain and Grow Grants of up to £25,000 (capital and revenue grant support of up to 50%).
9. COVID-19 Working Capital Loans
Working capital loans available to existing Scottish businesses who have been financially impacted by the COVID-19 pandemic.
Value: Loans from £25,000 to £100,000 are available. In exceptional circumstances, loans up to £250,000 may be available.
10. Arrow Innovation Accelerator
Grant funding is available to North East SMEs to buy services and/or equipment for research and innovation related activities.
Value: Grant funding of up to £10,000 is available.
The EIC Funding Finder can provide you with over 1,500 funding opportunities that may be relevant to your ideas and innovations, from the likes of HM Treasury, Cabinet Office, and European Regional Development Fund. The Funding Finder is updated in real-time so you always have the most up to date information.
Login or register here to explore current funding opportunities.