Telephone: 01582 882793 | Email: info@pioneeringinnovations.co.uk | About Us | News
Innovative Technology

How innovative should my technology be to get an Innovate UK R&D grant?

Innovate UK R&D grant competitions are known to be ultra-competitive with very few winners. Only the best proposals secure funding – so how innovative does a technology need to be?

It’s true that Innovate UK is interested in clear game-changing and/or disruptive innovations. We know that disruptors are innovators, but not all innovators are disruptors. While innovation and disruption are similar, disruptive innovations displace an existing market, industry or technology; changing the status-quo to produce something new, and more efficient and worthwhile. They are at once destructive and creative. Smartphones and mobile apps are classic examples of disruptive innovation that have changed the way we live and work, while creating a whole new category of jobs (mobile app developers) that never existed 10 years’ ago.

So what happens if your innovation is clever but not disruptive? Well you have to remember this is a competition for funding. If your innovation is more evolutionary than disruptive, where will it stand in a competition against truly disruptive propositions? In cases like this, you may be better off applying for R&D tax credits, which don’t discriminate for or against disruptive innovation.

What’s crucially important though is not how innovative your technology is, but how good is the business case? Ultimately, innovation is about commercialising great ideas. You could have a great idea, but if you don’t have a strong and deliverable business plan that addresses a significant market potential and need; and you don’t have a team and facilities to deliver – then it’s going nowhere!

There’s more to winning an R&D grant than simply clever technology. It’s the business case backed up with a clear, evidence-based business plan with a good understanding of the risks and the means to deliver that ultimately wins on the day!

Get in touch for a free consultation today

Name Telephone
Email Confirm Email
Message

Latest News

Innovate UK imposes a limit on academic partner financial involvement in collaborative R&D projects. Typically, in a SMART R&D grant project, academic partner costs are limited to a maximum of 30% of project costs. Other limits can apply in thematic R&D grant competitions. In some cases, this 30% project cost limit is not enough for […]

Read more >

Innovate UK is launching a new £20M open funding round of SMART R&D grants for UK SMEs on Monday 18th February. Offering up to 70% grants towards a project costing up to £2 Million, it offers SMEs an opportunity to submit any disruptive innovation including ideas from arts, design, media or creative industries. The open […]

Read more >