By Brigette Currin 2 minute read
Innovate UK have allocated up to £210m for innovation continuity loans to help SME’s and third sector organisations that have been impacted by the Covid-19 pandemic and facing a challenge in continuing, completing or following on an innovation project.
To support more organisations we have further broadened our eligibility criteria and launched Strand 3 of the innovation continuity loans.
Strand 3 innovation continuity loans aim to help SMEs to continue their innovation activity despite the impact of the coronavirus pandemic, without the need to have been supported by an Innovate UK award previously. Loans from £250,000 to £1.6m are available to fund R&D projects
This competition is now open for applications and closes at 11am on the 13 January 2021. You can find out more at our applicant briefing webinar on Wednesday 9 December.
Existing innovation continuity loans also extended
Strand 1 of the innovation continuity loans remain available for the continuation of live projects with an Innovate UK award. This is an open competition and the deadline for applications is 13 January 2021
Strand 2 of the innovation continuity loans has also been extended to 13 January 2021. This is for applicants with a new project that follows on from a recently completed Innovate UK project. Make sure you read the guidance before applying.