Innovate UK
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Early public and private investment speeds up innovation
UK businesses can benefit from a mix of government grants and private equity. See examples and an opportunity to access both simultaneously.
Start-ups often rely on external funding – whether that be from public or private sources, or both together – to get them on the right track for success.
Investment can help them do things they wouldn’t be able to do alone, or do so at a faster pace. It can give them confidence and remove the need to find other funding resources. It may also help them to access business advice and market opportunities.
Below are case studies of businesses that received Innovate UK support and have gone on to attract private equity, speeding up the time it takes to develop and commercialise their solutions.
Improving female health and wellbeing
Chiaro – the female healthtech business behind the Elvie connected pelvic floor exerciser – was awarded a grant by Innovate UK in its start-up phase. This allowed the company to leverage the latest developments in wearable tech that underpin Elvie. The device has proved a success, with the company making a profit within 6 months of it going on sale.
The business has since gone through a number of funding rounds. In its latest, it attracted £4.8 million of external investment, including Octopus Ventures and Allbright. This will support the development of 3 more smart products for female health and wellbeing and its global expansion into 25 countries. Chiaro’s total capital now stands at £9.6 million.
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