Investor Partnerships in digital technologies, North East: Rd 1

Innovate UK, as part of UK Research and Innovation, will work with North East Combined Authority to invest up to £2.5 million in innovation projects.

The projects will be led by ambitious UK registered micro, small or medium sized businesses (SMEs) who will use the funding to grow their innovation activities in the digital technology cluster in North East England, both during and after the project.

For this competition, North East England refers to the geography of the North East Combined Authority which includes Northumberland, Tyne and Wear, and County Durham.

This funding is from Innovate UK’s Launchpad programme which supports the UK government’s goals for local economic growth. This Launchpad is also supporting Innovation Super Network as the local cluster management organisation.

This competition brings together:

• Innovate UK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses
• the aligned funding and expertise of our investor partners in identifying opportunities and teams that can best use extra investment finance
• the ambition of North East Combined Authority for innovation led growth in the digital technology cluster

The aim of this competition is to provide support for your research and development and access to the capital investment that you need to develop and commercialise your innovations and grow your business.

Innovate UK, as part of UK Research and Innovation, has selected investor partners who have demonstrated the credibility, capability, capacity and appetite to invest in innovative, technology-led businesses in areas that align with their objectives in programme areas. The investor partners will work with Innovate UK to invite innovative businesses to apply for grant funding alongside their investment.

Project size

Your project’s total costs will depend on your research category and must be between £50,000 and £300,000 for feasibility studies, £100,000 and £1 million for industrial research, or £250,000 and £2 million for experimental development.

Eligibilty

Your project

You must have confirmation from your investor partner that you can apply for this competition.

The eligibility criteria for your project depends on your research category.

For feasibility studies projects:

• your total project costs must be between £50,000 and £300,000
• the project duration must be between 6 and 12 months

For industrial research projects:

• your total project costs must be between £100,000 and £1 million
• the project duration must be between 6 and 18 months

For experimental development projects:

• your total project costs must be between £250,000 and £2 million
• the project duration must be between 12 and 18 months

For all projects, your project must:

• not start before 1 May 2025
• end by 31 December 2026

Total project costs, detailed within your application, must not exceed the maximum project costs for your research category. If your total project costs do exceed the maximum, then your application will be made ineligible.

Your project will only be allowed to start once the aligned investment has been confirmed.

Dates

4 November 2024 - Pre-recorded briefing: watch the recording. 

4 November 2024 - Competition opens

11 December 2024 11:00am - Competition closes

7 February 2025 - Applicants notified

1 May 2025 - Project start from