Defence Innovation Loans updates: join the upcoming webinar to see what we have in store
DASA and Innovate UK will host a webinar to share exciting updates for the future of Defence Innovation Loans, and answer your questions. Don’t miss out!.
- On 13 December 2022, DASA and Innovate UK will host a webinar to share exciting changes for the future 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
The Defence and Security Accelerator (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.
Following success of the Defence Innovation Loans funding model, DASA and Innovate UK are pleased to hold an upcoming webinar to announce exciting changes to improve the service. Attendees will also have the opportunity to ask the hosts questions they have about the service.
Register now: 13 December – 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.
Defence Innovation Loans: what’s new?
DASA always seeks to improve its services, so aspects of the Defence Innovation Loans model will change in mid-December 2022. Here is how we are improving the service and making it easier for you to apply:
- Defence Innovation Loans are expanding to offer loans from £100K to £2m (previously £250K to £1.6M)
- the loan availability period will be up to 3 years (previously 2)
- Defence Innovation Loans will return to cycles, but will remain open at all times throughout the year
- the initial outcome of loan eligibility will still be carried out by DASA and Innovate UK, within 7 weeks from the closing date of the cycle
Attend the upcoming webinar to learn more and keep an eye on the DASA homepage for updates.
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.
- 13 December – Defence Innovation Loans: Webinar
Defence Innovation Loans: meet the Access to Mentoring & Finance (A2MF) Team
The A2MF team works closely with innovators to understand their business needs and aspirations. Their goal is to help companies become investment, market and supply chain ready. Engrained in the extensive business incubation and support community, the A2MF team use a smart brokerage model to help companies identify and access the expertise and funding required to overcome challenges to business growth and realise their ambitions.
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