Funding Opportunity: Innovate UK Growth Catalyst – Investor Partnerships

Innovate UK is inviting UK-registered small and medium-sized enterprises (SMEs) to apply for grant funding through the Growth Catalyst – Investor Partnerships (Round 2) competition. This programme supports innovation projects by combining public grant funding with aligned private investment from selected investor partners.

Funding body: Innovate UK
Eligibility: UK-registered SMEs
Funding type: Grant funding alongside private investment
Competition opens: Wednesday, 10 December 2025
Application deadline: Tuesday, 3 February 2026 (11:00am UK time)

Applicants must be invited by an approved investor partner and must have agreed their proposal with the investor before submitting an application.

 

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Who can apply

To be eligible, applicants must:

• Be a UK-registered micro, small, or medium-sized enterprise (SME)
• Carry out the project work in the UK
• Intend to exploit the project results in or from the UK
• Be a single applicant (no consortium applications)
• Be invited to apply by an Innovate UK investor partner
• Have discussed and agreed the proposal with the investor partner prior to submission

Each SME may submit only one application in this funding round.

 

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Eligible project types and sizes

Projects must fall under one of the following research categories:

Feasibility studies

• Total project costs: £50,000 to £300,000
• Project duration: 6 to 12 months

Industrial research

• Total project costs: £100,000 to £1 million
• Project duration: 6 to 24 months

Experimental development

• Total project costs: £250,000 to £2 million
• Project duration: 12 to 24 months

Projects must start on the first day of a month and cannot begin until the Innovate UK Grant Offer Letter has been approved.

 

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Funding details

• A minimum of £100 million has been allocated to this competition (subject to sufficient high-quality applications).
• Funding is provided as a grant, covering a proportion of eligible project costs.
• Grant funding is only awarded if aligned private investment is secured at or above the required minimum level.

Grant contribution rates

Feasibility studies and industrial research:

• Up to 70% of eligible costs for micro or small organisations
• Up to 60% for medium-sized organisations
• Minimum aligned investment must be at least equal to the grant amount

Experimental development:

• Up to 45% of eligible costs for micro or small organisations
• Up to 35% for medium-sized organisations
• Minimum aligned investment must be at least twice the grant amount

Projects can only start once the aligned investment has been fully confirmed.

 

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Subcontracting

• Subcontractors are permitted and may be based in the UK or overseas.
• Use of overseas subcontractors must be fully justified, with evidence that suitable UK subcontractors could not be used.
• All subcontractor costs must be reasonable, eligible, and proportionate to the project.

 

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Additional conditions

• Projects must comply with UK subsidy control legislation and Innovate UK funding rules.
• Organisations in financial difficulty are not eligible.
• Projects involving animals must comply with UKRI guidance on animal welfare and ethics.
• Innovate UK will not fund projects that breach UK sanctions regulations.

 

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How applications are assessed

Funding decisions are based on three factors:

1. Innovation – assessed by independent assessors
2. Additionality – the impact of the grant in accelerating innovation and leveraging investment
3. Traction – the likelihood that the aligned investment will complete within a reasonable timeframe

Strong performance across all three criteria is required to be successful.

 

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How to apply

Applications must be submitted through the Innovate UK application system. Applicants must either start a new application or continue an existing one before the deadline.

Full guidance on eligibility, eligible costs, and application requirements is available in the competition documentation.

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Innovate UK has opened the Growth Catalyst – Investor Partnerships (Round 2) funding competition for UK-registered SMEs. The programme offers grant funding alongside private investment to support feasibility studies, industrial research, and experimental development projects. Grants cover a proportion of eligible costs and require aligned investment from an approved investor partner. The competition opens on 10 December 2025 and closes on 3 February 2026 at 11:00am (UK time).

For more opportunities, click here.