Funding
how would the funds be drawn, i.e., in stages/ milestones etc ?
You can review our 'what happens if you are successful' page for information regarding this.
Will the lead applicant receive the funding only or all the partners for their element directly from IUK if successful?
All the partners directly from Innovate UK against eligible claims.
Does every partner need to offer investment if taking funds?
You will have to detail the grant fund requested by each partner, the contribution from each of the partners, and how they comply with UK Subsidy Control rules.
If the majority of an organisation’s work on the project is commercial or economic, they will need to co-invest a proportion of their costs. The UK’s Subsidy Control regime means only organisations undertaking non-economic activities are permitted to have 100% of the cost covered by public funding. (Or 80% of full economic costs (FEC) if you are a Je-S registered institution such as an academic).
What is the expectation for private sector co-investment?
Over the duration of the project periods, the aim is to achieve a 1:1 ratio of public to private co-investment within the West Midlands IA project portfolio.
Is sub-granting allowed?
Yes, and the application form will clarify how any projects including a ‘secondary competition’ should present this element. The specific mechanism is to be discussed. UKRI retain the right to run the secondary competition for compliance with UK Subsidy Control rules.
Can funds be spent outside of the Uk to support inward investment?
Would the use of current building be considered as part of match funding?
This is covered in the eligible cost guidance provided on IUK web page
If you require infrastructure capital for the refurbishment or re-fit of the building, please discuss this with WMCA as early as possible, and take guidance from Innovate UK prior to the submission.
IUK forms require universities going through the J-es system to generate their costs only get 80% of their actual costs. As several projects have grant funding within them for companies (administered by a university lead) this is potentially an issue.
Organisations undertaking non-economic activity as part of the project can share up to 100% of the total eligible project costs. If your consortium contains more than one organisation undertaking non-economic activity, this maximum is shared between them.
You could get funding for your eligible project costs of up to:
- 80% of full economic costs (FEC) if you are a Je-S registered institution such as an academic.
- 100% of your project costs if you are an RTO, charity, not for profit organisation, public sector organisation or research organisation.
