Innovation loans for manufacturing and materials readiness

Posted on 5 Mar 2018 by Jonny Williamson

Innovate UK is to offer up to £10m in loans to micro, small and medium enterprises (SMEs) for innovative manufacturing or materials projects.

Material - image courtesy of Depositphotos.
Innovate UK is to offer up to £10m in loans to SMEs for innovation projects – image courtesy of Depositphotos.

The aim of this competition is to provide a loan which will help SMEs increase manufacturing readiness.

This applies to innovations in manufacturing systems, technologies or processes, and/or materials development, properties, integration or reuse.

Proposals should focus on the scale-up of recent or ongoing manufacturing process innovation and/or materials development activities.

The project’s aim should be to enable UK based companies to progress innovative manufacturing or materials developments to commercial readiness.

Projects should last up to 5 years, of which up to 3 years can focus on research and development (R&D), and up to 2 more years to establish a clear route to commercial success. Loan repayments will be required over a further period of up to 5 years.

Businesses must be able to show that they:

  • can cover interest payments
  • will be able to repay the loan on time
  • need public funding

For more information, click here. 

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