This grant is designed to support the most promising and innovative projects and is managed by the European Innovation Council.
✅ Innovate UK is the UK’s national innovation agency.
✅ Funding typically covers 50%–70% of project costs for SMEs and is paid in arrears, tied to project milestones.
✅ Projects can be delivered individually or in collaboration with research partners, and must clearly demonstrate market need, technical feasibility, and commercial potential.
KTPs are a unique way to bring academic expertise into your business. Each KTP connects you with a university or research institution and places a graduate (the KTP Associate) inside your business to deliver the project over 12–36 months.
Funding can cover up to 67% of total project costs for SMEs. These costs typically include the Associate’s salary, supervision from the academic partner, and project consumables.
Develop a new product, service, or process
Improve an existing system or adopt digital tools
Embed long-term innovation capability or strategic thinking into your organisation
If you’re developing a new product, process, or service that has already proven technical feasibility but requires further development, an Innovation Loan could help fund the final stages.
✅ Loans typically range from £100,000 to £2 million, with below-market interest rates and flexible repayment terms.
✅ To be eligible, projects must show strong commercial potential and a credible plan for both delivery and repayment.