A Guide for SMEs and Partners
The Innovate UK Smart Grants provide funding of up to £25 million for UK-registered organisations working on game-changing and commercially viable R&D innovations with a significant impact on the UK economy. Open to any sector, this grant prioritises projects with a strong potential for economic return, growth, and export success.
In this blog, we explore the key features, benefits, and application tips for IUK Smart Grants.
What are IUK Smart Grants?
IUK Smart Grants are designed to support transformative innovations that have the potential to create significant market impact. Open to SMEs and their partners, these grants cater to projects that start at Technology Readiness Levels (TRLs) 4/5/6 and should aim to finish on TRL Level 7.
This grant supports:
- Innovations across all sectors and technologies.
- Projects with clear, deliverable plans for market entry, growth, and economic return.
- Collaborations that combine business and research capabilities for impactful R&D.
Case Study – BladeBUG: Revolutionising Wind Turbine Maintenance
With Venturenomix support, BladeBUG secured a £500,000 Innovate UK Smart Grant to advance their robotic technology for offshore wind turbine inspection and repair. Collaborating with Imperial College London and the Offshore Renewable Energy Catapult, the project improved safety and efficiency in renewable energy maintenance.
Eligibility Criteria:
- Open to UK-based SMEs, large companies, academic institutions, charities, and other partners
- Lead application must be UK-registered SMEs (for single applications) or UK businesses of any size/RTOs (for collaborative applications)
- Projects must demonstrate technological feasibility and market potential
- Collaborative projects are encouraged, projects of 19-24 months must be collaborative and the lead applicant must be an SME
- Location of project activities and exploitation of outcomes must take place in the UK.
Funding Size:
- 6 to 18 months: £100,000 to £500,000 (single or collaborative).
- 19 to 24 months: £100,000 to £1 million (collaborative only).
- Grant funding rates cover 50-100% of eligible costs, depending on the size and type of applicant.
The Process:
Applications for IUK Smart Grants involve a detailed online submission process. Key steps include:
- Preparing a project plan that highlights the innovation’s unique value proposition.
- Providing evidence of market demand and potential scalability.
- Demonstrating alignment with Innovate UK’s objectives.
| Deadline | Maximum Grant | Link to Webpage |
| Q1 & Q2 & Q3 & Q4 | £1 million | Innovate UK Smart Grants |
Success Factors for IUK Smart Grant Applications:
- Showcase how your project addresses unmet market needs.
- Provide clear evidence of technical and commercial feasibility.
- Highlight your innovation’s competitive advantage over existing solutions.
Here are three concise challenges and solutions when writing a smart grant:
Challenge 1: Demonstrating Market Need and Commercial Potential
Solution: Conduct thorough market research with credible data, highlight your innovation’s unique selling points, and provide evidence of demand through customer feedback, pilot results, or letters of support.
Challenge 2: Aligning with Innovate UK Objectives
Solution: Research Innovate UK’s strategic priorities, quantify your project’s impact (e.g., jobs created, carbon reduced), and clearly connect your innovation to addressing broader societal or economic challenges.
Challenge 3: Crafting a Realistic Project Plan
Solution: Break the project into clear phases with key milestones, identify risks with mitigation strategies, and use visuals like Gantt charts to present a clear and achievable timeline.
Case Study – Tonus Tech: Innovating Wearable Technology
Venturenomix helped Tonus Tech secure a £265,000 Innovate UK Smart Grant to develop AI-driven wearable garments that analyse and improve movement. Partnering with City University, London, and Newcastle University, this innovative project is set to transform the health and fitness sector.
Conclusion
IUK Smart Grants provide an incredible opportunity for SMEs and partners aiming to bring high-impact innovations to market to transform innovative ideas into market-ready solutions. With competition fierce, partnering with experts like Venturenomix can make all the difference in crafting a standout application.
Contact us today to begin your journey to funding success.
Oliver Cressall
I help clients unlock their funding potential by providing expert support on R&D grant applications across the UK and EU, driving impactful results. I deliver tailored guidance in grant funding, marketing, operations, and strategic growth.
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