Coming up with new ideas and making the most of them is a major step along the road to growth.
If you cannot capitalise on a great idea, it becomes merely a chance that got away.
The UK's innovation agency works with businesses to find and drive the science and technology innovations that will grow the UK economy. They have helped more than 5,000 innovative companies with projects estimated to add £7.5 billion to the UK economy and create 35,000 extra new jobs.
Innovation Grants are offered through competitions for early stage innovation.
Innovation Loans are offered for late stage R&D that remains experimental rather than commercial.
There is a huge amount of funding and support available for innovators, so sign up for email notifications from Innovate UK on all the opportunities you could take advantage of.
Knowledge Transfer Networks
Established to speed up innovation and find markets for new ideas, Knowledge Transfer Networks (KTN) have specialist teams covering every sector and have helped thousands of businesses secure funding to drive their innovation. KTN also continues to supports those businesses after investment to ensure they succeed.
Ensure you keep up to speed with everything KTN has to offer by signing up to receive email updates via this quick form.
Business Catapult Programme
Established by Innovate UK, there are over ten catapult centres, designed to transform the UK’s capability for innovation and drive growth.
The centres allow business to meet with scientists and engineers to transform ideas into economic growth.
Catapult Centres are:
- Cell and Gene Therapy
- Compound Semiconductor Applications
- Energy Systems
- Future Cities
- High Value Manufacturing (a network of another seven centres)
- Medicines Discovery
- Offshore Renewable Energy
- Satellite Applications
- Transport Systems
An organisation dedicated to improving people’s lives through the use of design, the Design Council helps businesses grow and offers paid-for design support, delivers partner-funded programmes and campaigns to raise awareness of the value of design.
Horizon 2020 Framework Programme
Horizon 2020 takes great ideas from the lab to the market, with nearly €80 billion of funding available over 7 years. It’s the biggest ever EU Research & Innovation programme and is seen as a means to drive economic growth and create jobs.
Intellectual Property Office
Intellectual Property is something you create that’s unique. It includes copyright, patents, designs and trade marks, and can be:
- Something you invent, like a new product
- A product’s design or appearance
- A brand or logo
- Written work, like content on a website or in a brochure
- Artistic work, like photography or illustrations
- Film recordings or musical compositions
- Computer software
The Intellectual Property Office will help you make sense of everything it all and help protect you if someone uses our intellectual property without your permission.
Small Business Research Initiative (SBRI)
The SBRI provides SMEs with a route to market for their ideas and supports them to generate economic growth by finding new business opportunities for them. It also helps to bridge the funding gap experienced by many early stage companies and enables the development of innovative products and services through the public procurement of research and development (R&D).
Research and Development Tax Credits
You could qualify for R&D relief if you carry out a project that seeks to achieve an advance in overall knowledge or capability in a field of science or technology. The project must relate to your company’s trade and if you are an SME, you must own any intellectual property that arises from the project. There is an SME Scheme and a Large Company Scheme. Please note: This tax relief is only available to companies that are liable for Corporation Tax.
The Patent Box
The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned from its patented inventions after 1 April 2013. Your company must own or exclusively license-in the patents and must have undertaken qualifying development on them. You could also benefit from the Patent Box if it holds certain other medicinal or botanic innovation rights.