Small businesses can apply for loans of up to £1 million to help them turn their game-changing ideas into new products, processes or services.
Smaller companies often struggle to convert their game-changing ideas into commercially available products and services because of the costs of scaling up production and the difficulty in gaining finance.
Innovate UK as part of UK Research and Innovation is offering up to £10 million in loans to help small and medium-sized companies (SMEs) to commercialise innovative products or services.
Ideas can come from any area of technology or the economy and must lead to sustainable business growth.
The scheme aims to provide businesses with finance that is affordable and flexible and that supports projects in the late stage of development.