Once you have established the total cost of the project, partners must determine the correct grant rate to apply for. Grant rates vary depending on the size and type of the business and if the knowledge base uses FEC or non-FEC to calculate its costs.
Innovate UK grant rate contributions are:
- large businesses and public sector organisations: 50%
- micro, small and medium-sized businesses: 67% for FEC projects, 60% for non-FEC projects
- not-for-profit businesses of any size: 75% for FEC projects, 70% for non-FEC projects
The grant rate applied for should reflect the size of the business partner on the date that funding will be approved by Innovate UK. If your business is part of a group, this will impact on the grant rate as it will be calculated based on the total size of the group.
You can find guidance on determining the size and type of a business in the eligibility section of the application.
If your application is successful, Innovate UK will provide the knowledge base with a grant to cover a proportion of the total project costs. The businesses will need to fund the remaining cost of the project.