Innovate UK, part of UK Research and Innovation, is investing up to £25 million in the best game-changing ideas.
Ideas need to be designed for swift, successful commercialisation and be genuinely new and novel, not just disruptive within their sector.
All proposals must be business-focused, with deliverable, realistic, adequately resourced plans to achieve return on investment, growth and market share following project completion.
Applications can come from any area of technology and be applied to any part of the economy, such as, but not exclusively:
- the arts, or
- design and media.
To be in scope, your proposal must demonstrate (among other things):
- a game-changing, innovative, and disruptive idea that will lead to new products, processes or services;
- an idea that is significantly ahead of others in the field, set for rapid commercialisation; and
- clear potential to positively impact the UK’s position, productivity, and competitiveness within the global economy.
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Companies applying for R&D tax credits need to follow the rules carefully in order to maximise their tax relief. New changes to the R&D tax credit scheme come into force from 1st April 2023 aimed at reducing incorrect or fraudulent claims, improving compliance and encouraging UK innovation.
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