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The start of a new year is when many new businesses and projects within existing businesses are launched. Such initiatives usually need funding and an important source of funds is Innovate UK. Innovate UK is part of UK Research and Innovation ("UKRI") which was established by s.91 (1) of the Higher Education and Research Act 2017. Its website states that it "convenes, catalyses and invests in close collaboration with others to build a thriving, inclusive research and innovation system."
Innovate UK connects businesses to partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth. Since its establishment, it has invested £2.5 billion in 8,500 organizations which investment is estimated to have created 70,000 jobs and added £18 billion of value to the British economy (see the "About Us" page of the Innovate UK website). A spreadsheet listing all Innovate UK's funded projects and some typical case studies can also be accessed through that site.
A good starting point for anyone seeking funding is Innovate UK's Guidance for Applicants page of UKRI's website. The General Guidance page contains an overview and provides links to the following information:
- Funding opportunities
- Before you start an application
- Your application
- What happens after you have submitted your application
- What happens if you are successful
- Funding rules
- Categories of research and development
- Other funding opportunities, and
- Updates to general guidance.
The best way to learn about current funding opportunities is to sign up for Innovate UK's newsletter. This month's edition contains news on the Made smarter innovation: sustainable smart factory, Automotive Transformation Fund expression of interest: round 17. Innovate UK smart grants: October 2021, NATEP helping SMEs innovate in aerospace and Early ideas to improve the delivery of nucleic acid therapeutics. There is also information on Small Business Research Initiative projects.
Established businesses can access assistance through their trade associations, local chambers of commerce, local enterprise partnerships in England, Business Wales in Wales and similar organizations in Scotland and Northern Ireland. Individuals who are not yet in business should approach the British Library's Business and Intellectual Property Centre or its national network of local partners.
Established businesses can access assistance through their trade associations, local chambers of commerce, local enterprise partnerships in England, Business Wales in Wales and similar organizations in Scotland and Northern Ireland. Individuals who are not yet in business should approach the British Library's Business and Intellectual Property Centre or its national network of local partners.
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