Innovation Loans Expression of Interest
Forecasted
Innovation Loans Expression of Interest supports UK SMEs with loans for late-stage R&D and pre-commercialisation work to bring innovations to market and deliver UK economic and societal benefits.
Funder: UK Research and Innovation
Due Dates (Anticipated): October 2027 (Competition closes)
Funding Amounts: £100,000–£5 million in loans; up to 100% of eligible costs; maximum seven-year term
Summary: Loans support UK SMEs undertaking close-to-market innovation with strong commercial potential and significant UK economic and societal benefits.
Key Information: Single UK-registered SMEs only; applicants must demonstrate repayment capacity and inability to obtain suitable alternative finance.
Description
Innovate UK, part of UK Research and Innovation (UKRI), offers innovation loans for highly innovative, late-stage research and development projects undertaking experimental development. Projects must have a clear route to commercialisation and economic impact, delivering new products, processes or services significantly ahead of existing alternatives, innovative uses of existing offerings, or innovative business models.
The programme supports businesses able to manage debt but struggling to access suitable finance. Projects must primarily align with Advanced Manufacturing, Clean Energy Industries, Creative Industries, Defence, Digital and Technologies, or Life Sciences. Funding can support R&D and pre-commercialisation activities that bring innovation to market, including prototyping, demonstration, piloting, testing and validation in representative operating conditions. An approved Expression of Interest (EOI) leads to an invitation to submit a full application.
