The aim of the competition for innovation loans is to help businesses to overcome the barriers to their cutting-edge ideas becoming sustainable commercial products. Businesses need to show they could not get suitable finance from other sources.
Applicants must demonstrate:
- a clear game-changing and/or disruptive idea
- a strong and deliverable business plan
- the necessary skills and experience to run and complete the project successfully and on time
- awareness of all the main risks the project will face
- sound, practical financial plans and timelines that represent good value for money
- a clear plan to deliver growth through commercialisation
Click here for more information.