Healthy ageing programme – Round 2 – £12 Million
Innovate UK are seeking to appoint a variety of investors interested in investing in companies that aspire to develop products or services that address the 7 themes of the Healthy ageing challenge.
Innovate UK will establish a selection of investors that are aligned to the healthy ageing programme, investors must be of good financial standing and have credibility, capability and capacity to invest. Successful investors will introduce businesses that have an R&D project addressing the healthy ageing challenge and will need to be committed to provide aligned investment where Innovate UK offers grant funding to successful applicants in subsequent SME competitions.
The total investment in an SMEs business must be at least the same amount of the aligned grant awarded, equity investment aligned with a grant award will provide businesses with sufficient capital to ensure it can complete its R&D objectives in delivering innovation in the healthy ageing market. We are looking for a mix of UK established investors with an interest in healthy ageing markets including venture capital, angel network, charity, social impact organisations or corporate venture investors. We expect Investors to be equity providers with the potential to act as lead investor in investments from £1 million to £3 million.
We are particularly interested in investors who:
- are willing to act as sole investor or be the lead investor where additional co-investment is required
- are prepared to deploy their investment with a patient and long-term view
- can follow their investment and potentially provide more financing when required with an aspiration to fund or leverage total investment of up to 3 times the original grant funding by 2025
- can commit to helping the SMEs with international aspirations to grow and scale up
- have relevant sector or technology-specific expertise or social impact priorities around the healthy ageing markets
Further details on scope, eligibility and how to apply can be found on IFS site at the below link:
Date investor selection opened: 7 Sept 2020
Date investor selection Closes: 4 November 2020