Innovate Uk
- On 13 June 2023, DASA and Innovate UK will host a webinar to show you how to make the most out of Defence Innovation Loans
- Defence Innovations Loans are delivered via a unique partnership between DASA and Innovate UK
- Defence Innovation Loans is an alternative funding method to help Small and Medium-sized Enterprises (SMEs) who often struggle to bring their ideas to market
Following the success of the Defence Innovation Loans funding model, DASA and Innovate UK are pleased to hold an upcoming webinar to provide information about Defence Innovation Loans and how you can apply. Attendees will also have the opportunity to ask the hosts questions they have about the service.
DASA introduced Defence Innovation Loans in the summer of 2021, as an alternative funding method to help convert mature defence innovations into viable business propositions that can compete for defence procurement. Aimed at Small and Medium-sized Enterprises (SMEs), and with a below market interest rate of 7.4% per annum, Defence Innovation Loans provide affordable funds to help innovators commercialise defence innovations.
Register now: 13 June - Defence Innovation Loans: Webinar
What will the webinar cover?
- What is DASA?
- How do Defence Innovation Loans work?
- What is new with Defence Innovation Loans?
- Who can apply is your business and innovation eligible?
- What you can borrow amounts and eligible costs.
- What project and loan periods are available and what the repayment terms are.
- How to apply for a Defence Innovation Loan; information about submitting applications to DASA and Innovate UK.
- Q&A.
What are Defence Innovation Loans?
DASA is focussed on increasing the pull through of innovative ideas and supporting the impact and commercialisation of solutions into capability. DASAs Access to Mentoring and Finance (A2MF) team supports this, providing a business growth service to innovators looking to commercialise and grow their business into the Defence & Security markets.
One of DASAs main financial mechanisms to support with business readiness and the commercialisation of innovations is through the Defence Innovation Loans programme. Run in partnership with Innovate UK, Defence Innovation Loans are designed to help growth-minded SMEs develop and commercialise their mature defence solutions and yo help tackle some of the challenges businesses face in moving from technology development, to product and company scale up.
Defence Innovation Loans Key points:
- Exclusively for SMEs
- Innovations must be at Technology Readiness Level 6 or above
- Loans from 100,000 - 2 million
- Loans can cover up to 100% of project costs to aid commercialisation of the solution
- Below market interest rate
- In partnership with Innovate UK
Who can apply for a Defence Innovation Loan?
To apply for a Defence Innovation Loan, you must:
- be a UK registered SME
- intend to exploit the results in the UK or overseas to make a significant and positive impact on the UK economy and / or productivity
- give evidence that your business is suitable to take on a loan
Please note, individuals, academic institutions, research organisations and large companies are not eligible for Defence Innovation Loans.
What innovations are considered for a loan?
Defence Innovation Loans are open to innovative ideas to improve the defence of the UK. Your innovation must be mature, at TRL 6 or above, to ensure the solution can be commercialised within the time scale of the loan. There must also be clear evidence of a Defence need for the innovative solution.
Register now: 13 June - Defence Innovation Loans: Webinar
Ready to apply?
Read the Defence Innovation Loans document a