Investor Partnerships in Digital Technologies, North East: Rd 1

Apply before: December 11, 2024

Innovate UK, in collaboration with the North East Combined Authority, will invest £2.5 million in innovative projects led by UK-registered small and medium-sized enterprises (SMEs). This program focuses on supporting businesses in the digital technology cluster of North East England, which includes Northumberland, Tyne and Wear, and County Durham. The funding, through the Launchpad program, aligns with the UK government’s goals for local economic growth. The competition encourages SMEs to pursue research and development while gaining access to investment capital to commercialize their ideas. Selected investor partners will evaluate and co-invest in businesses aligned with Innovate UK’s objectives. Only fundable projects that also secure partner investment will be eligible for grants.

Eligibility

The eligibility criteria for the Investor Partnerships in digital technologies, North East: Rd 1 are:

Applicants must be UK-registered micro, small, or medium-sized businesses.
Projects must be conducted entirely within the UK.
Businesses must collaborate with an approved investor partner.
Total project costs must align with the funding categories:
- Feasibility studies: £50,000–£300,000 (6–12 months).
- Industrial research: £100,000–£1 million (6–18 months).
- Experimental development: £250,000–£2 million (12–18 months).
Projects must start by May 2025 and end by December 2026.
Businesses must secure aligned investment before project initiation.
SMEs can only submit one application per competition round.
Subcontractors must be UK-based; overseas subcontractors are ineligible.
Proposals must meet animal welfare standards, if applicable.
Businesses must comply with Innovate UK’s sanctions rules.

How can AI benefit startups?

Benefits

The benefits of Investments in Investor Partnerships in digital technologies, North East: Rd 1 are:

Provides up to £2.5 million in funding for innovative projects.
Offers access to aligned investment from credible partners.
Supports the growth of the digital technology cluster in North East England.
Helps businesses commercialize innovations through grant and capital funding.
Encourages inclusivity by supporting underrepresented groups.
Boosts local economic growth through innovation-led projects.
Provides a structured framework to develop and execute projects.
Enhances credibility and visibility for SMEs with investor backing.
Promotes collaboration between businesses and trusted investors.
Helps businesses meet compliance and ethical research standards.

Application process

Click here to apply.

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Theme	: Innovation
Applicant Country	: United Kingdom
For more information	: GOV.UK

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