Opportunities available with Innovate UK's Grant Scheme for SMEs within the professional services sector
There has been an exciting development that holds immense promise for SMEs within the professional services sector.
Innovate UK, part of UK Research and Innovation plans to invest £5 million in innovation projects that advance the Professional and Financial Services sectors. It looks to support them in creating and adopting digital approaches and new digitally supported services.
If your business has been holding back on projects that align with our digital objectives, this grant scheme could be the gateway to explore future success.
The project must:
start by 1 April 2024
last between 6 and 18 months
carry out all of its project work in the UK
intend to exploit the results from or in the UK
Funding requests for single applicants can cover £50k-£200k and cover up to 70% of the total costs
Funding requests for single applicants can cover £50k-£500k and cover up to 70% of the total costs
Innovate UK are particularly encouraging applications that:
are for projects that increase access to the services by underserved or excluded communities, individuals, and businesses
cover more than one sector in scope
address broad sector wide needs
involve collaborations with non-grant funded professional and financial service providers
are multidisciplinary and include social science as well as science and engineering
You can find more information on the Innovate UK website here
The scheme offers two distinctive pathways, each catering to your project's nature: one for individual applicants and the other tailored for collaborative ventures.
If you think the above scheme might fit the bill for a project you are considering, please let us know and are happy to help you with the next steps.