Smart Grants

Innovate UK Smart Grants

Funds United Kingdom technology ventures across broad sectors through competitive grants for deep technology and innovation.

Innovate UK Smart Grants was the UK's most widely used open innovation grant competition from 2017 until its suspension in January 2025. Operating on a quarterly cycle, the programme accepted applications from UK-registered businesses across any technology sector — science, engineering, creative industries, or digital — with no thematic restriction. At peak activity the programme funded more than 800 projects per year, with an aggregate annual budget exceeding £100 million. Single-company projects could request £25,000 to £500,000 for 6 to 18 months; collaborative projects involving at least one SME could access up to £2 million over 6 to 36 months, with universities, Catapult centres, and research and technology organisations eligible as partners.

Funding rates followed UK state-aid norms: micro and small companies received up to 70 percent for industrial research and 45 percent for experimental development; medium companies 60 and 35 percent; large companies 50 and 25 percent. Academic partners could recover up to 80 percent of eligible project costs. Eligible cost categories included labour, materials, capital equipment (depreciation only), subcontracting, travel, and a 20 percent overhead on labour. Target Technology Readiness Levels ranged from TRL 3 (experimental proof-of-concept) through TRL 7 (prototype demonstrated in an operational environment), with a required commercialisation plan and demonstrable UK market demand. Historical round success rates ran approximately 10 to 15 percent per quarter.

As of mid-2026, Smart Grants remains paused with no confirmed return date published by UKRI. Innovate UK confirmed in early 2025 that there would be no Smart rounds in financial year 2025–26, and a replacement pilot for innovative SMEs was launched in spring 2025. This record is maintained for historical reference and institutional visibility; any applicant seeking similar open-scope Innovate UK support should monitor UKRI's funding finder for successor competitions, which are expected to emerge in future financial years.