Available to small and medium-sized enterprises and at a below-market interest rate of 7.4% per annum, the Defense Innovation Loan provides an excellent opportunity to apply for affordable funds to help you place your decisions in the hands of leading defense services.
This new opportunity comes from a unique partnership between DASA and Innovate UK. It builds on our goal to help transform your mature defense innovation into a viable business proposal that can compete for defense procurement.
Apply for a loan right now! Read the full document and submit your idea…
How much is available for a Defense Innovation Loan?
This year’s defense innovation loan competition is £ 10 million.
You can apply for a loan ranging from £ 250,000 to £ 1.6 million at a below market interest rate of 7.4% per annum. This loan can cover up to 100% of eligible project costs to facilitate the commercialization of the solution, and the total loan term should not exceed 7 years.
Please pay attention Innovate UK will credit this defense innovation loan competition and you will enter into a loan and security agreement with Innovate UK Loans Ltd.
Read the full DASA competition document for more information on Defense Innovation Loans.
Who Can Apply for a Defense Innovation Loan?
To apply for a Defense Innovation Loan, you must:
- be a UK registered SME
- intend to use the results in the UK or overseas to have a significant and positive impact on the UK economy and / or productivity
- provide proof that your business is suitable for a loan
Please note that individuals, academic institutions, research organizations and large companies are not eligible for innovation loans.
What innovations will be considered for obtaining a loan?
The Defense Innovation Loan is open to innovative ideas to improve the protection of the UK. Your innovation must be mature at TRL 6 or higher in order for the solution to be commercialized within the timeline specified in the innovation loan. There must also be clear evidence of the need to protect the innovative solution.
How do I apply for a Defense Innovation Loan? Submit your offer now!
Click here to see the full DASA competition document and submit your idea.