Latest government grants for small businesses

Non-dilutive financial support such as grants from the government or other organizations to small businesses is crucial. Start-ups need to tackle more obstacles than large companies – developing their embryonic innovative solutions, proving product-market fit or ensuring they have enough cash flow to operate.

However, small and innovative businesses are often important to a functioning and prosperous economy and so governments support through grant programmes. We want to start highlighting upcoming grant funding opportunities. We will announce new grants and other opportunities as they come so make sure to come back and check out our Insights section for more opportunities in the future!

Innovate UK grants, loans and support

Innovate UK provides a variety of grants, innovation loans and expert support. Competitions are continuously run. The scheme supports innovative UK businesses with the potential to achieve commercial success from new technologies and ideas.

Innovative UK offers grants of between £25,000 and £10 million. Grant funding is available for all sizes of business, from new companies to large multinationals. It also offers innovation loans of between £100,000 and £1 million. These are designed for UK-based SMEs to carry out late-stage research and development projects.

To be eligible, companies need to fit with one of the UK Government’s Industrial Strategy grand challenge areas:

• artificial intelligence and data
• ageing society
• clean growth
• future of mobility

Or open to any type of innovation or technology project.

Fast Start: Innovation

This competition is designated for UK-registered small and micro-businesses. Companies can apply for a share of up to £30 million for affordable, adaptable, and investable innovations in net-zero and Healthcare. The competition is open to single applicants only.

To lead a project your organisation must:

• be a UK-registered micro or small business
• not have previously been awarded funding from Innovate UK
• carry out its project work in the UK
• intend to deliver the proposed outcomes from the UK for domestic or global benefit

Opens: 11 July 2022

Deadline: 26th July 2022

For more information visit the government website.

Innovate UK Smart Grants: April 2022

UK-registered companies can apply for a share of up to £25 million for commercially viable R&D innovation that can significantly impact the UK economy. This funding is part of UK Research and Innovation. This competition is open to single applicants and collaborations.

To lead a project your organisation must:

• be a UK-registered business of any size or a UK-registered research and technology organisation (RTO)
• be or involve at least one micro, small or medium-sized enterprise (SME)
• carry out all your research and development (R&D) project activities in the UK
• intend to commercially exploit the project results from the UK

Opened: 25 April 2022

Closes: 27 July 2022

Innovate UK EDGE

Innovate UK EDGE provides expert advice for businesses looking to commercialise new ideas and succeed in international markets. This scheme provides funding and bespoke support that helps to grow your business, such as:

• exploiting innovation, intellectual property, and connections in the UK and abroad
• entering new markets at home and abroad
• accessing funding and finance and getting investment ready

Visit Innovate UK EDGE for more information on your eligibility.

Horizon Europe funding

Horizon Europe provides funding for research or innovation that’s ground-breaking, improves European research standards or responds to challenges such as climate change or food security.

Horizon Europe funds projects which:

• involve ground-breaking research or new technologies
• improve research training and development, or research infrastructure
• create growth in sectors like advanced manufacturing, materials, biotechnology, information and communication technology, nanotechnology, and space
• increase private investment in research
• respond to challenges like climate change, food security or healthcare for an ageing population

SMEs can also get help from a coach or mentor to improve management skills, create a marketing strategy or raise finance.

Find your UK National Contact Point for advice here.

Innovation Loans Future Economy Competition

The UK-registered businesses can apply for loans for their innovative projects with strong commercial potential that can significantly improve the UK economy. This competition is open to single SME applicants registered in the UK.

Opened: 9 June 2022

Closes: 13 July 2022

For more information about these loans please visit the government website.

Young Innovators Awards 2022 to 2023

Young people can apply for an award to transition their business idea into reality. The award includes a grant for £5,000, a living allowance, and tailored business support. The award is open to sole applicants only.

To be eligible applicants must:

• be a UK resident who has the right to work in the UK, or will have the right to work in the UK for the duration of the award
• be aged from 18 to 30 on the date of the competition closing
• be able to commit on average 2 days (15 hours) per week to work on the award
• attend four bootcamp sessions

Opened: 13 June 2022

Closes: 27 July 2022

If you couldn’t find something your business or ideas are eligible for, visit the official government website. This website provides the most comprehensive database of funds from the government. There are hundreds of grants to apply which provide opportunities for companies from various backgrounds.