The Headline Promise
Innovate UK has announced improvements to its funding process: a simpler application, faster decisions, more diverse assessors and tailored support. On paper, it sounds like progress. In practice, it raises as many challenges as it solves.
Why “Simpler” Isn’t Simple
Word limits and strict formatting make it harder, not easier, to explain complex technological ideas. For SMEs working on advanced projects in AI, clean tech or engineering, reducing innovation to a few hundred words often strips away the nuance that investors and reviewers need to understand the opportunity.
Faster Decisions? Not Fast Enough
The target of a 90-day decision cycle sounds impressive. But when you add application preparation, assessment and award processes, SMEs often wait close to a year for funds to land. For fast-moving technologies, that delay can be fatal. Opportunities are lost, competitors advance and momentum stalls.
Diverse Assessors, But Less Consistency
A broader pool of assessors brings variety, but it also brings inconsistency. One assessor may see promise where another sees risk. For SMEs, that unpredictability makes the process even harder to navigate. Ironically, AI-assisted assessment could deliver more consistency than the current system.
Tailored Support or Seagull Management?
Innovate UK promises greater involvement from monitoring officers. But many SMEs describe this as “seagull management”: swooping in, creating disruption, then flying out again. For entrepreneurs under pressure, this isn’t tailored support. It’s added noise!
The Bigger Picture: More Applications, Fiercer Competition
Innovate UK has become a victim of its own success. More promotion brings more applications, but budgets remain tight. For applicants, the competition grows fiercer. At the same time, shorter application windows make it harder to prepare a winning submission. The outcome is predictable: frustration for entrepreneurs and wasted effort for many promising projects.
The Bottom Line: Why Expert Guidance Matters
The reality is that Innovate UK funding is still a powerful growth lever. But winning is harder than ever. SMEs who go it alone risk wasting precious time and resources.
The only way forward is with expert guidance.
UKBA advisors understand how to position an application, sharpen its story, and navigate the complexities of the process. With experience across sectors and dozens of successful bids, we give entrepreneurs the edge they need in a crowded field.