£30 million funding for innovative UK start-ups

Jon Hall

7th July 2022

Small, innovative start-up

The UK’s national innovation agency, Innovate UK is launching a brand new series of grants worth £30 million, supporting innovative UK businesses.

Fast Start: Innovation

This new series of Fast Start: Innovation grants will offer UK-registered small and micro-businesses the opportunity to grow and accelerate the realisation of ideas.

Providing a quick way to boost cash flow, these grants, of up to £50,000 each, will help to drive innovation towards commercialisation.

Innovation solving big challenges

Grants will support innovations in one or more of the seven technology areas outlined in the government’s Innovation Strategy:

  • advanced materials and manufacturing
  • artificial intelligence, digital and advanced computing
  • bioinformatics and genomics
  • engineering biology
  • electronics, photonics and quantum
  • energy and environmental technologies
  • robotics and smart machine

Example applications include LiDAR scanning for Smart Cities, robotics to enhance manufacturing, exploring last-mile delivery, or weather impact and erosion tracking,

Applicants will also be asked to consider how their innovation could be part of solving specific challenges of net-zero and self-driven healthcare and wellbeing.

Reaching diverse innovative businesses

To ensure that Innovate UK is reaching new and more diverse, innovative businesses with high growth potential, Fast Start: Innovation grants will only be offered to businesses that have not previously received Innovate UK funding.

Businesses who are offered grant funding will also be offered tailored business support through Innovate UK EDGE.

Applications can be made from 11 to 26 July 2022.

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