UK businesses can benefit from £100 million in grants for pioneering research and from £25 million in loans to commercialise their best ideas.
The UK’s most innovative businesses can win a share of £125 million to help them turn their most innovative ideas into world-beating products and services.
Large and small businesses can take advantage of £100 million available from the Smart grant programme that helps take innovative ideas in any field from the concept stage to full commercialisation.
Previous winners of a Smart award include machine-learning company Magic Pony Technology, which was sold to Twitter for $150 million.
Industrial Strategy aims to create jobs and growth
A further £25 million is available in Innovation Loans to support late-stage projects that are close to market. The loans scheme is aimed at getting businesses over the final hurdle to commercialisation. Recent recipients include Exeter-based Lightfoot, which is using the loan to extend its technology to reward better driving from the business to the consumer market.