Innovate UK is rolling out a pilot of innovation loans from the government. These loans provide low interest (3.7 per cent), flexible funding to SMEs in the later stages of R&D, which have clear plans to commercial success. Loans offered between £100,000 – £1 million.
To introduce these exciting new innovation loans, the Knowledge Transfer Network is hosting a series of events across the UK. These events are aimed at senior decision-makers (CEO / CFO / CTO) in innovative SMEs and at key intermediaries in professional services firms and public sector support organisations. At the events, Innovate UK will explain the rationale for innovation loans and where they sit in the landscape of innovation support, outline the key features and obligations of the loans and explain how they will be delivered and operated.
Innovation loans will offer affordable, patient, flexible, repayable funding for later-stage research and development projects with a clear route to commercial success. Loans will be offered through future competitions to growth-oriented SMEs that are able to demonstrate that they have a high quality innovation project, that they will be able to afford the interest payments and subsequent repayments associated with a loan and that they need public sector support as they are unable to access finance for their project on standard commercial terms.
These are the upcoming events:
Newcastle – 26 Oct 2017
London – 30 Oct 2017
Manchester – 31 Oct 2017
Glasgow – 1 Nov 2017
Birmingham – 2 Nov 2017
Cardiff – 6 Nov 2017
Belfast – 7 Nov 2017
For more information and to register for one of the events, please see the KTN website.