Regional angel investment accelerator pilot: finding group partners
Angel groups can apply to partner with Innovate UK to distribute grant funding alongside their investment.
This competition aims to select suitable organisations to partner with Innovate UK.
Together we will:
- support innovation in UK small or medium sized enterprises (SMEs)
- increase the capacity of regional angel investor networks to invest in innovative SMEs
The selected angel investor partners (AIPs) will distribute grant funding for innovative research and development (R&D) projects to SMEs. This will be alongside investment from angels and other similar early stage investors.
This competition will identify 2 angel investor partners (AIPs) who will:
- each be based in a geographical region where angel investment in innovative SMEs requires extra support
- receive an allocation of £1 million to distribute as grants to SMEs alongside equity investment
Once selected, each AIP will work over 2 years with regional angel investors to:
- identify innovative SMEs that the AIP’s angel investors expect to invest in
- fund those SMEs to enable them to carry out research and development projects and grow using both grant and equity funding
- support R&D projects assessed as suitable by Innovate UK, with costs of between £40,000 and £300,000, and with up to 50% of the eligible project costs funded by the Innovate UK grant