Innovate UK Innovation Loans (Future Economy)

Innovate UK Innovation Loans (Future Economy) is a repayable capital route for UK SMEs carrying late-stage research, development, and commercialisation work that is beyond the reach of a grant and not yet ready for ordinary commercial debt. It sits in Innovate UK's loan portfolio and is aimed at businesses pushing future-economy products toward market. The latest documented round offered GBP 100,000 to GBP 5 million per project from a GBP 25 million pot, with interest at 3.7% during the project phase and on deferred interest, then 7.4% during repayment. Projects can run for up to seven years in total, with up to five years for development and up to five years for repayment. The route is restricted to UK-registered SMEs carrying out the work in the UK and excludes individuals, charities, academic institutions, research organisations, and larger companies. Applicants need to show that they have exhausted alternative finance and can afford repayments. The programme fits companies that are close enough to market to justify debt, but still too technical or capital intensive for a standard bank loan. The strongest applications are commercially grounded, UK-based, and explicit about how the borrowed capital will move a specific innovation to launch or scale.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.