The future economy investor partnership programme brings together Innovate UK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses, with investor partners’ aligned funding and expertise in identifying opportunities and teams that can best use extra investment finance. This approach aims to provide you with support for research and development access to the capital investment you need to develop and commercialise your innovations.

You will need to establish a relationship and a level of investment traction with one of our approved investor partners before you apply for funding. A full list of selected investor partners is provided at Innovate UK Investor Partners – UKRI and Innovate UK Business Connect investor partnerships websites. If you would like help to find an investment partner, contact Innovate UK Business Connect’s Investment team.

The funding available in this round is limited, so only three specific themes are in scope. These are:

  • advancing life-changing cancer therapeutics, focussed on immunotherapies and paediatric oncology (Cancer Therapeutics)
  • the application of extended reality for digital mental health, including immersive content that could be delivered as a digital mental health therapeutic in formal healthcare settings (Mindset)
  • projects within the creative industries which are underpinned by innovative digital technology as well as sustainable innovations, such as circular fashion (Creative Catalyst)

Your project’s total costs will depend on your research category and must be in the ranges: £50k-£300k for feasibility studies; £100k-£1m for industrial research; £250k-£2m for experimental development. The grant from Innovate UK can cover up to 70% of these costs depending on project type and business size. The aligned investment led by the investor partner must always be at least twice as much as the grant funding.

If you are a business in immersive technology and interested in one of these areas, click here to find out more about the available funding and how to find an investor partner. Briefing event Wednesday 8 May 11am-1pm; deadline 19 June 2024.