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Innovate UK: COVID-19 business support

An update on the support available to businesses from Innovate UK due to COVID-19 and advice for award holders.

General advice for innovative businesses

With news of the continued spread of coronavirus (COVID-19) both domestically and internationally, we are aware that for innovative businesses like yours, this will have a potential impact on supply chains, business continuity and cashflow.

We recognise that the nature of these impacts will evolve and are likely to increase over the coming weeks, potentially months.

We are working to understand the impacts on companies as the situation evolves.

Innovate UK is still operational

Please be reassured that Innovate UK has business continuity measures in place and is continuing to operate.

If you have any concerns or potential challenges around your financial position, particularly cashflow issues, we recommend you speak with your investors and your bank.

Many banks have set up specific funds and support for affected businesses, some of which is underpinned by the Government.

If you have an Innovate UK award

Contact your monitoring officer

If you are an Innovate UK award recipient, also contact your Innovate UK monitoring officer, who will keep us informed and allow us to assess if we can offer support too.

The earlier you speak with your monitoring officer, the easier it will be to understand your issues and find potential solutions.

Speak to your local EEN advisor

Specialist advisers from the Innovate UK Enterprise Europe Network (EEN) team, located regionally, are also there to help and support you.

Contact your adviser if you need assistance or go to the EEN website to be connected with an adviser.

We will continue to monitor the ongoing impact of coronavirus on the companies we support to ensure we can provide the best support whilst managing public money appropriately.

The Government announced a package of measures including support for businesses; find information on how it may apply to you.

See the full range of business support measures for UK businesses and employees.

 

Channel website: https://www.gov.uk/government/organisations/innovate-uk

Original article link: https://www.gov.uk/government/news/innovate-uk-covid-19-business-support

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