31 Jul 2023

Innovate UK Unlocking Potential Award 2023: Begin

Innovators can apply for an award to make their business idea a reality. The award will include a grant for £5,000, a living allowance and tailored business support. Competition opens: Monday 10 July 2023 Competition closes: Wednesday 6 September 2023 11:00am Innovate UK, part of UK Research and Innovation, will invest up to £6.2 million in innovation […]

Innovators can apply for an award to make their business idea a reality. The award will include a grant for £5,000, a living allowance and tailored business support.

  • Competition opens: Monday 10 July 2023
  • Competition closes: Wednesday 6 September 2023 11:00am

Innovate UK, part of UK Research and Innovation, will invest up to £6.2 million in innovation projects.

One of the greatest assets we have in the UK is the incredible diverse talent available. This diversity is not currently reflected in the UK innovation sector. For the UK to thrive as an innovation nation, we must unlock the power of innovation talent and skills in every part of the UK and throughout society.

The Innovate UK Unlocking Potential Award is a two strand pilot competition that aims to empower today’s untapped innovators and businesses to increase investment in diverse talent across the UK. It aims to level the playing field and unlock potential for innovation by supporting and funding innovators from groups that are currently underrepresented or overlooked in innovation.

The competition focuses on attracting innovators with different backgrounds and experiences. We are looking for a diverse group of innovators that with our help, can turn their great ideas into successful businesses. The competitions will be open to a range of innovators, from those who are just beginning their career, to those who are expanding their businesses.

This competition is split into 2 strands:

  • Innovate UK Unlocking Potential Award 2023: Begin – awards will include a grant amount of £5,000, a living allowance and tailored business support (this strand)
  • Innovate UK Unlocking Potential Award 2023: Build – awards will include a grant amount of £50,000 and tailored business support

You will only be eligible to apply for one strand of the competition. It is your responsibility to ensure you submit your application to the correct strand for your project. You will not be able to transfer your application and it will not be sent for assessment if it is out of scope.

Talk to the RISE team if you would like to know more, carry out an Innovation Audit/Innovation Canvas to support your application.

Eligibility criteria

Competition overview – Innovate UK Unlocking Potential Award 2023: Begin – Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)

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