Innovation Loans Future Economy: Round 23
Award: £100,000 – £5,000,000
Programme: Innovate UK
Closing date: 22nd October 2025
Overview
Innovate UK is offering flexible, low-interest loans (typically 3.7% interest during development, rising to 7.4% post-commercialisation) to UK-registered micro, small and medium-sized enterprises (SMEs) undertaking late-stage R&D (TRL 6–9) with strong potential to deliver significant commercialisation and economic impact in the UK’s future economy sectors—such as Net Zero, Health & Wellbeing, and Next Gen Digital.
Eligibility
- Applicant: Single UK‑registered SME (micro, small or medium).
- Project Location & Exploitation: Must happen and yield in the UK.
- Purpose: Scaling advanced R&D to commercialisation—no early-stage or purely discovery projects.
- Financial Suitability: Must demonstrate ability to repay the loan, cover interest, and a clear need for public funding.
Award & Project Duration
- Award: Loan £100k to £5m per project.
- Project Duration: Up to 3 years.
Key Dates
- Closes: 22nd October 2025.
