Innovate UK is the UK’s national innovation agency, providing competitive funding to help businesses develop and commercialise new technologies, products, and services. Its mission is to stimulate economic growth and increase productivity by turning innovative ideas into market-ready solutions.
Calls are launched throughout the year across key areas such as manufacturing, materials, energy, agrifood, digital, health, and sustainability, with a strong focus on innovation that delivers commercial and societal impact within the UK.
What it funds
Innovate UK offers several types of grants and competitions, including:
Thematic Competitions
Targeted calls in specific sectors or technologies (e.g. clean growth, bioeconomy, advanced materials)
Collaborative R&D Projects
Funding for partnerships between companies, universities, and research organisations
Innovation Loans and Investor Partnerships
Support for later-stage commercialisation
Funding covers feasibility studies, industrial research, and experimental development, depending on the call’s objectives and technology development level.
Who it’s for
Innovate UK funding is open to UK-registered businesses, from start-ups and SMEs to large enterprises.
Projects often include a mix of industrial and academic partners, creating a bridge between cutting-edge research and market implementation.
Funding at a glance
Innovate UK provides non-dilutive grant funding depending on project type and company size:
- Up to 70% of eligible costs for small businesses
- Up to 60% for medium businesses
- Up to 50% for large enterprises
Typical project sizes range from £100,000 to £2 million, with larger collaborative R&D projects reaching £5–10 million.
Common challenges
Applicants often struggle with defining a clear market need, demonstrating commercial potential, and ensuring technical feasibility within the competition scope.
Many proposals fail to connect the innovation story, from technical development to business impact, in a way that resonates with reviewers.
How Iconiq helps
At Iconiq, we make the process straightforward and strategic. Our team combines deep understanding of Innovate UK’s evaluation criteria with strong technical backgrounds – many of us hold PhDs and postdoctoral experience in relevant fields.
We adapt to your stage and needs:
- Have a solid idea backed with data? We’ll transform it into a persuasive, fully compliant application.
- Still refining your concept? We’ll help shape it, ensuring alignment with the call, the market opportunity, and Innovate UK’s priorities.
We put proposals through rigorous expert review to maximise quality before submission, handling all aspects from narrative to budget, so your team stays focused on the innovation itself.
see our impact in action
Explore our current project portfolio and completed case studies to see our impact in action: