How are Innovate UK applications selected for grant funding?

Innovate UK is the national funding agency investing in science and research in the UK. If you are looking for grant funding for an innovative project then this is most likely to be the body that you make your application to. Obviously, it’s a highly competitive process and there are many other enterprises looking to get this kind of support. That’s why it’s so essential to have a clear idea of how Innovate UK applications are actually selected for grant funding.

 

Three steps to success

Applications that are received by Innovate UK are scored by a group of independent assessors who have the right knowledge, experience, and sector-focus for each application. Once the scoring has taken place the next stage is a three-step process that looks a little like this:

  1. Innovate UK will check whether there are any scores that look unjustified or as if they are outliers and may need to be modified.
  2. The assessors’ responses to the final recommendation questions are reviewed by Innovate UK to ensure that the project in question is within the scope of funding. If there is a majority vote by the assessors for a specific project then it can be considered.
  3. A minimum quality threshold of 70% is required for grant funding from Innovate UK so a project is checked to ensure it is innovative and cutting edge enough to meet this.

 

A panel sheet is created

This panel sheet is basically a list of all those projects that have successfully made it through the three step process. The list is ranked in order of which projects scored the highest during the process – the purpose of creating the panel sheet in this way is to be able to allocate funds. Funds will be allocated from the top of the panel sheet down to the bottom, so that the highest scoring applications receive the larger allocation of funding. This process continues until the whole budget has been spent. Innovate UK can also use a portfolio approach to allocating funding, which means that applications are chosen based on spend profile.

 

The final stages

At this point, if your application has been successful then you will be notified. Every application is given feedback, regardless of whether it has been successful. The point of doing this is to help explain why the project has either been successful in its funding application or has not. It’s not usually possible to appeal the decision if you’re not successful for Innovate UK funding – or to argue with any of the feedback that has been provided. In most cases this is the end of the process. However, there may be some grant funding that also requires some further stages, whether that is another written application or appearing in front of an interview panel.

Innovate UK is a major supplier of grant funding in the UK and has supported many innovative organisations and enterprises. Understanding how applications are selected for grant funding can make the process much easier to navigate.

 

Grant Advance Funding through SPRK Capital

SPRK Capital are a leading provider of R&D tax credit loans and grant funding loans in the UK. We support innovative SMEs by giving them access to their capital when they need it.

 

To find out more about how we can advance your grant funding to you, visit our ‘Grant Loans‘ page.

 

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