Funding opportunity for micro businesses and SMEs in AgriFood

If you are working on an innovative AgriFood R&D project in the UK and you'd like to fast-track your growth, you could apply for a loan of between £100,000 and £2m.  

Your project should be around one or more of these themes:   

• Net zero - Zero carbon emissions and tackling wider adverse environmental impacts
• Health and wellbeing - Sustaining healthy human life, including nutrition and healthcare
• Technologies - Creating and benefiting from advances in technology

Who can apply?

• Micro, small and medium businesses, to support innovation and growth
• You must run an innovative late stage research and development (R&D) project
• The project must be conducted from or in the UK, with results exploited from or in the UK

Project eligibility

• There needs to be a clear route to commercialisation and economic impact
• The project must lead to new products, processes or services that are not currently available, or propose an innovative use for existing ones
• The loan is to help businesses overcome barriers to making their innovation a successful commercial venture, and should result in significant economic growth

What are the conditions of the loans?

• The loans will be between £100,000 and £2m
• The loan can cover up to 100% of your eligible project cost
• Interest will be 7.4% per annum
• The overall term of the loan is a maximum of 7 years  

This funding competition is closing on 13 April 2022.

More information on the Innovation Loans Future Economy Competition is available online.