In July 2022, Innovate UK launched a series of grants worth £30 million to back innovative UK business to accelerate innovation and boost the UK economy.
These Fast Start Innovation grants looked across the government’s innovation strategy with an additional focus on net zero solutions and self-driven healthcare.
“Fast start grants are a great way to help small and micro businesses take their great ideas closer to commercialisation. Making affordable, adoptable, and investable innovations in net zero and self-driven healthcare a reality helps business growth in these key areas. For the businesses, such grants de-risk and accelerate ideas to market catalysing commercial success.”
Dr Deborah Watson, Innovate UK EDGE
Fast forward three months and several SETsquared Exeter member organisations have been recognised for their innovative product and service development with a grant award.
With innovations across post-natal healthcare, group therapy video conferencing solutions, and child welfare monitoring, the societal and economic benefits ready to be accelerated are tangible and impactful.
“The impact of this grant has been huge. We have spent two years bootstrapping with a clear and passionate vision - an app to support and navigate women though the post-natal period, empowering women to understand their recovery whilst aiding early recognition and diagnosis of postnatal complications.
With the IUK grant we are able progress from ideas and a basic prototype to an MVP. This funding has not only enabled this huge leap to take place but has put us in a much stronger position to look at future funding options.”
Dr Sarah Andrews, Mama Health
Through the UEEZ, the ERDF funded SETsquared Exeter Acceleration Programme, members are able to plan and implement strategy and structure to ensure that they are ready and able to win and utilise grant funding.
“Securing IUK funding is a core objective for many of the high-growth tech businesses joining the SETsquared Exeter Accelerator Programme. Fast Start Grants are a brilliant way for early-stage ventures to boost cash flow and accelerate innovative ideas that have a clear route to commercialisation. To this end they are an essential part of the broader micro- and small business support pathway.”
Dr Ben Voysey, SETsquared Exeter
To find out more about the ERDF funded UEEZ project, SETsquared Exeter and the work we do to support high tech, high growth start-ups and SMEs visit https://setsquared.exeter.ac.uk or email email@example.com