About the programme

Are you innovating to drive towards net zero, improve health & wellbeing or develop the next generation of digital technologies?

We are excited to announce that SETsquared is one of the selected Investor Partners of Innovate UK’s £80m Future Economy Programme.

The scheme enables early-stage innovation-led businesses supported by SETsquared to raise non-dilutable grant funding, up to £900k, for R&D projects aligned to our Future Economies alongside Angel co-investment.

If selected for an invitation to apply, you will benefit from professional support from SETsquared to prepare your grant application to Innovate UK, whilst your investment opportunity is simultaneously promoted to SETsquared’s affiliated Angel networks. There are currently 12 Angel networks involved in this scheme, and this is growing rapidly. These Angel investors are specifically interested in early-stage, deep tech/science-based business investments.

Learn more about the angel networks involved in the scheme.

Who should apply?

The programme is open to applications from existing SETsquared Scale-Up members, as well as members from any of the SETsquared acceleration centres. You must be an early-stage SME raising investment for an R&D project that meets the Innovate UK criteria of being a feasibility study, industrial research or experimental development.

Angel investment networks interested in getting involved in the scheme should email [email protected]. Angel investors who are interested in being connected to syndicates or learning more about early-stage investing, visit the UKBAA/SETsquared Angel Accelerator.

How the funding works

If selected, the scheme will enable your business to secure an Innovate UK grant alongside angel investment to fund a suitable R&D project.

The total eligible costs for the project are £50,000 – £2,000,000

The grant will fund up to 70% of the total eligible costs

Following standard Innovate UK open call process

This application runs in parallel with raising Angel investment to provide funding that is at least equal to the amount provided by the grant.

Get involved

To register, we invite you to join the SETsquared Innovation Platform where you can access support, and resources and keep updated with programme news in a dedicated network for the Future Economy Fund. Please head over to the Innovation Platform to login or register to join.

If you have any questions about the programme, please contact [email protected]

Apply on the Innovation Platform