Investor Partnerships – Battery Innovation Programme

Key facts

About this grant

Summary from the official listing on Find a Grant (GOV.UK):

Investor Partnerships

Innovate UK, as part of UK Research and Innovation (UKRI), has selected investor partners with aligned investment interests and capacity to lead investments.

These investor partners have demonstrated that they have the credibility, capability, capacity and appetite to invest in innovative, technology-led businesses in areas that align with our strategic priority areas.

The Investor Partnerships programme brings together:

• Innovate UK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses
• investor partners aligned funding and expertise in identifying opportunities and teams that can best use extra investment finance

The aim of this competition is to provide support for research and development and access to the capital investment you need to develop and commercialise your innovations.

Battery Innovation Programme

This competition is for SMEs that can demonstrate the potential to grow and scale and must also have a project that is aligned to the Battery Innovation Programme. Innovate UK, part of UK Research and Innovation, is delivering the Battery Innovation Programme on behalf of the Department for Business, Innovation, Science and Trade (DBIST). Funding will be considered for high quality applications that meet one or more of the following criteria:

• accelerate the development and commercialisation of state-of-the-art battery technologies in the UK
• support the growth of the UK battery supply chain and related companies
• enhance the UK’s competitiveness in the global battery market
• demonstrate how battery technologies can meet specific application requirements and drive electrification across diverse sectors

If successful, Business Growth support is available through this competition. Eligible UK based small and medium sized businesses may be contacted by Innovate UK Business Growth to explore whether they could benefit from their support.

Innovate UK Business Growth offers a fully funded advisory service designed to help innovative businesses make informed strategic decisions, strengthen their investment readiness, and access the right resources to support growth and scale-up ambitions.To learn more about how an Innovation and Growth Specialist could support your business, visit the service's website.

You can also contact Innovate UK Business Connect to establish if there are specific programmes for connecting businesses in your sector to relevant investors. Support and connections to sector specific investors can also be provided by the relevant Catapults.

You must establish a relationship and a strong level of investment traction with one of our approved investor partners before you apply for funding.

View details of our investor partnerships: Investor Partnerships - Innovate UK Business Connect

The investor partner must have submitted an expression of interest directly to Innovate UK and confirmed with you that you are in a position to apply for grant funding as you will be asked to identify them in the application. Without an EOI submitted by your named Investor Partner, your application will be viewed as ineligible.

Examples of sufficient investment traction will depend on the approach taken by the investor partner and could include:

• an indicative offer from an investor partner which could include an angel investor from an investor partner angel group or network
• going through due diligence with an investor partner
• receiving a term sheet from an…

Eligibility

Your project

The eligibility criteria will depend on your research category.

For feasibility studies projects:

• your total project costs must be between £50,000 and £300,000
• the project duration must be between 6 and 12 months

For industrial research projects:

• your total project costs must be between £100,000 and £1 million
• the project duration must be between 6 and 24 months

For experimental development projects:

• your total project costs must be between £250,000 and £2 million
• the project duration must between 12 and 24 months

Projects must always start on the first of the month, even if this is a non-working day. You must not start your project until your Grant Offer Letter has been approved by Innovate UK. Any delays within Project Setup may mean we need to delay your project start date.

You must only include eligible project costs in your application. See our overview of eligible project costs.

Your organisation

This competition is open to single applicants only. To apply your organisation must:

• be a UK registered micro, small or medium sized business (SME)
• carry out its project work in the UK
• intend to exploit the results from or in the UK
• be invited to apply by your investor partner
• have discussed and agreed your proposal with your investor partner before submitting your application

More information on the different types of organisation can be found in our Funding rules.

Subcontractors

Subcontractors are allowed in this competition.

Subcontractors can be from anywhere in the UK and you must select them through your usual procurement process.

You can use subcontractors from overseas but must make the case in your application as to why you cannot use subcontractors from the UK.

You must provide a detailed rationale, evidence of the potential UK contractors you approached and the reasons why they were unable to work with you. We will not accept a cheaper cost as a sufficient reason to use an overseas subcontractor.

All subcontractor costs must be justified and appropriate to the total eligible project costs

Number of applications

An SME can only submit one application into this round of the competition.

Sanctions

This competition will not fund you, or provide any financial benefit to any individual or entities directly or indirectly involved with you, which would expose Innovate UK or any direct or indirect beneficiary of funding from Innovate UK to UK Sanctions. For example, through any procurement, commercial, business developmen

Details are copied from the official source and can change. Check the official listing before you apply. Grant Writing Company is not affiliated with this funder.