The eligibility factors to be considered for a grant are as follows: • Sectors: Unless specified, UK Innovate smart grants are open to all sectors. • Size of business: This is call-specific. • Business stage (pre-start, early-stage, start-up or established business): Some calls prefer more established businesses but in most cases, there are no restrictions.

The application process for business grants is highly competitive.

Many businesses apply for a limited pool of funds, so it's crucial to submit a strong and well-prepared application.

Below are ways to improve your chances of success:

• Understand the Criteria: Ensure that you fully understand the criteria specifically required for the grant you are choosing to apply for.
• Provide a detailed Project Plan: A clear, detailed project plan outlining objectives, timelines, and expected outcomes.
• Strong Business Case: Present a compelling business case, showing the potential for innovation, market demand, and commercial viability.
• Demonstrate Impact: Showcase the expertise and experience of your team, emphasising their ability to deliver the project successfully.
• Correct planning: Provide a robust financial plan, including detailed budgets and funding requirements.
• Compliance and Documentation: Ensure all required documentation is complete and accurate.
• Seek Support: Utilise resources from Innovate UK and other support organisations to refine your proposal.
• Early Preparation: Start preparing your application well in advance of the deadline. 

This is call-specific. At a high level, the typical requirements would be a project description, project delivery plan and project financial plan.

There are 4 parts to the application process:

• Business and financial information: This includes a link from the Innovation Funding Service to questions, in the format of a survey, that you must answer about your business and to a spreadsheet template that you must fill in to provide financial information about your business for the full period of your loan request.
• Project questions: These are questions that you must answer about your proposed innovation project.
• Project finances: This is information about the costs of your proposed innovation project. 
• Before you start: You will need to create an Innovation Funding Service account before you can apply for an UK Innovate smart grant.

For more information, visit our Innovate UK Smart Grants page. 

The grant should be used in line with the project's financial plan.

Below are the requirements you must bear in mind when using a grant.  

• Purpose-Specific Usage: Grant funds generally need to be used for the purposes outlined in your grant application and as approved by the grant provider. For example, if the grant is for research and development (R&D), the funds cannot be diverted to marketing or unrelated business activities.
• Compliance with Grant Terms: You must comply with all terms and conditions set by the grant provider, which may include specific guidelines on how the funds should be allocated.
• Reporting and Documentation: Regular reporting on the use of funds is typically required, including financial statements, progress reports, and impact assessments. For example, you might need to submit quarterly reports detailing how the funds have been spent and the progress made towards project goals.
• Timeframe for Use: There is usually a specified timeframe within which the grant funds must be used. For example, funds might need to be spent within 12 months of receiving the grant, and any unspent funds may need to be returned.
• Matching Funds Requirement: Some grants require matching funds from the business, meaning you must invest a certain amount of your own money in conjunction with the grant. For example, if a grant requires a 50% match and you receive £50,000, you must also invest £50,000 of your own funds.
• Intellectual Property (IP) Rights: There may be specific conditions related to the ownership and commercialisation of intellectual property developed with grant funds. For example, the grant provider may retain certain rights to use the IP or require you to share revenue generated from it.