Innovate UK Smart Grants: Complete Guide
What Smart Grants funded, how they were assessed, and why you cannot apply for one today.
Smart Grants are paused and closed to new applications.
The last round closed on 22 January 2025 and none has opened since. This page is kept as a record of how the scheme worked, because the successor competitions are assessed the same way. If you are looking for funding now, read what to apply for instead first.
What Were Innovate UK Smart Grants?
Innovate UK Smart Grants were the UK's open, any-sector innovation competition: non-dilutive capital that did not require giving up equity or control of your company, awarded to projects from “any area of technology” applied to “any part of the economy”. That openness was the point. Unlike sector-specific competitions focused on clean energy, semiconductors or defence, Smart accepted disruptive innovations that did not fit neatly into a predefined category, which made it the natural route for startups and SMEs working on something genuinely novel. Four rounds ran in 2024. The programme has been paused since the final round closed on 22 January 2025, and every competition Innovate UK has opened since is tied to a specific sector.
In those final rounds, from January 2024, Smart funded total project costs of £100,000 to £500,000 over 6 to 18 months, or £100,000 to £1 million over 19 to 24 months for collaborative projects. Micro and small companies could claim up to 70% of feasibility and industrial research costs but only 45% of experimental development, which is where most projects sat. Competition was severe: Innovate UK published no official success rate, but its own round figures, reported second-hand, show 46 projects funded from 1,645 applications in one round and 44 from 1,676 assessed in the last. The widely repeated “around 15%” is consultancy marketing, and we repeated it on this page ourselves until 21 September 2026.
Why Smart mattered, and what its loss changed
- ✓Non-dilutive funding—no equity or ownership given up, which is still true of the successor grants
- ✓Sector-agnostic—the feature no current Innovate UK grant competition replicates
- ✓Credibility boost—Innovate UK backing signals quality to investors and customers
- ✓Regular opportunities—four rounds a year, until January 2025
Who Could Apply for Smart Grants?
Smart Grants were designed for UK businesses with genuinely innovative ideas and the capability to bring them to market. These were the key eligibility requirements in the final rounds.
UK-Based Business
Your organisation must be registered and operating in the United Kingdom. This includes England, Wales, Scotland, and Northern Ireland. Overseas companies can participate as subcontractors but cannot lead applications.
SME Status Preferred
Small and medium enterprises receive the highest funding rates (up to 70%). Large companies can apply but receive lower intervention rates (typically 50% or less). Research organisations can participate as partners.
Game-Changing Innovation
Your project must involve a disruptive or game-changing innovation. Incremental improvements to existing products typically do not qualify. The innovation can be in any sector—there are no thematic restrictions.
Clear Commercial Potential
You must demonstrate a credible route to market and commercial viability. Projects should show potential for significant economic impact, whether through revenue growth, job creation, or export potential.
Appropriate Project Size
In the final rounds, total project costs had to fall between £100,000 and £500,000 for a 6 to 18 month project, or up to £1 million for a collaborative project of 19 to 24 months. The grant request had to be proportionate to your organisation size and the project scope.
Capacity to Deliver
Your team must have the skills, experience, and resources to complete the project successfully. You should be able to demonstrate relevant track record and explain how you will address any capability gaps.
How Much Funding Can You Get?
Funding rates depend on your organisation size and the type of research activity. SMEs receive the highest rates, up to 70% of eligible project costs.
| Organisation Type | Feasibility Studies | Experimental Development | Industrial Research |
|---|---|---|---|
| Micro/Small Enterprise | 70% | 45% | 70% |
| Medium Enterprise | 60% | 35% | 60% |
| Large Enterprise | 50% | 25% | 50% |
| Research Organisation | 100% | N/A | 100% |
Most Smart Grant projects were classified as experimental development, where micro and small companies received up to 45% rather than the headline 70%. Getting this wrong is the most common budgeting error we see, and the same split applies to the sector-specific competitions running now.
How Smart Grant Applications Worked
The application process took 4-6 weeks to complete properly, followed by 10-14 weeks of assessment. Here is what each stage involved.
Check Competition Dates
OngoingSmart ran quarterly until January 2025. With the scheme paused, check the Innovation Funding Service for the sector-specific competitions open now; each typically stays open for 6 to 12 weeks.
Register on the Portal
1-2 daysCreate an account on the Innovation Funding Service (IFS) at apply-for-innovation-funding.service.gov.uk. Complete your organisation profile with accurate company details.
Prepare Your Application
2-4 weeksAnswer all application questions, focusing on innovation, market opportunity, team capability, project plan, costs, and wider benefits. Each section has strict word limits.
Complete Financial Information
1 weekEnter detailed cost breakdowns including labour, materials, subcontracting, travel, and overheads. Justify every significant cost item. Large requests may require due diligence.
Review and Submit
2-3 daysHave colleagues review your application for clarity and completeness. Check word counts, ensure all sections are answered, and submit before the deadline.
Assessment Period
8-12 weeksApplications are scored by independent assessors against published criteria. Panel moderation ensures consistency. You cannot amend your application after submission.
Funding Decision
2-4 weeksInnovate UK notifies all applicants of the outcome. Successful projects receive grant offer letters. Feedback is provided to unsuccessful applicants.
Frequently Asked Questions
Common questions about Innovate UK Smart Grants eligibility, funding, and application process.
Are Innovate UK Smart Grants still open?
No. Smart Grants are paused and closed to new applications. The last round, Smart grants: November 2024, closed on 22 January 2025 and no round has opened since. UKRI’s guidance states that Smart grants are closed for new applications while funding is aligned to Innovate UK’s new strategic direction, and a DSIT minister told Parliament on 9 December 2025 that the programme has been paused while Innovate UK redesigns its funding programmes. No reopening date has been announced.
What is an Innovate UK Smart Grant?
Smart Grants were Innovate UK’s open, any-sector funding competition for UK businesses developing game-changing innovations. Unlike themed competitions, they accepted applications “from any area of technology” applied “to any part of the economy”, providing non-dilutive capital that did not require giving up equity. Four rounds ran in 2024. The programme is currently paused, and the only officially named successor, Growth Catalyst, is restricted to Industrial Strategy priority sectors.
How much funding did Smart Grants provide?
In its final rounds, from January 2024, Smart Grants funded total project costs of £100,000 to £500,000 for projects lasting 6 to 18 months, or £100,000 to £1 million for collaborative projects lasting 19 to 24 months. Funding rates depended on organisation size and the type of research: micro and small companies could claim up to 70% of feasibility and industrial research costs, but only 45% of experimental development, which is where most projects sat. The widely quoted £25,000 floor and £2 million ceiling applied to earlier rounds, before September 2023.
What was the Smart Grants success rate?
Innovate UK never published an official success rate, and the “around 15%” figure that circulates widely comes from consultancy marketing rather than any published source. Secondary reporting of Innovate UK’s own round statistics puts it far lower: 46 projects funded from 1,645 applications in the round announced in September 2024, and 44 funded from 1,676 assessed in the final round. That is low single digits, not one in seven.
What replaced Smart Grants?
The only successor named by government is Growth Catalyst, a £130 million Innovate UK scheme combining grants with aligned private investment and tailored support, restricted to Industrial Strategy growth sectors. It is not a like-for-like replacement: Smart was open to any sector, Growth Catalyst is not. Innovate UK’s March 2026 strategy promises stage-gated grants and loans calibrated to stage and risk, and its Velocity service launches fully in September 2027.
What can I apply for instead of Smart Grants?
It depends on your sector. Innovate UK currently runs sector-specific competitions in batteries, semiconductors and advanced connectivity, engineering biology, advanced manufacturing and agri-tech. The Innovation Loans expression of interest, the last any-sector route, was no longer listed on 13 October 2026; see our live list of open Innovate UK competitions. Outside Innovate UK, the devolved and regional schemes remain open to any sector: SMART Flexible Innovation Support in Wales, Scottish Enterprise and Scottish EDGE, Invest NI, and English growth hubs. R&D tax relief is available whatever your sector.
What costs were eligible for Smart Grants?
Eligible costs included labour for staff working on the project, materials and consumables, subcontracting and consultancy, travel and subsistence, equipment, and overheads. All costs had to be directly related to the project and incremental to normal business activities. Capital equipment was typically only eligible if essential to the project and not available through other means. The successor competitions use broadly the same cost categories.
How long did the Smart Grants process take?
From application submission to funding decision typically took 10 to 14 weeks. The assessment period was usually 8 to 12 weeks, followed by panel moderation and final decisions. If successful, contract negotiation and project setup added another 4 to 8 weeks. The same timescales broadly apply to the sector-specific competitions that are open now, and you should not commit to project activities before receiving a grant offer letter.
More Grant Resources
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Every Innovate UK competition open now, with dates and amounts.
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