FOI release

FOI2023/00212: Innovation Loans 2022 - Rounds 1 to 6

Some or all of the information requested was not provided because we determined that the cost to do so would exceed the appropriate limit.

Case reference FOI2023/00212

Published 28 June 2023

Request

Request Received: 18 April 2023

I am trying to better understand the funding process and portfolio approach of Innovate UK. Specifically, for the Innovation Loans Future Economy competitions in 2022 - Rounds 1 to 6:

• Round 11 (Competition opened: Thursday 10 March 2022, Competition closes: Wednesday 20 April 2022)

• Round 22 (Competition opened: Thursday 14 April 2022, Competition closes: Wednesday 11 May 2022)

• Round 33 (Competition opened: Thursday 12 May 2022, Competition closes: Wednesday 8 June 2022)

• Round 44 (Competition opened: Thursday 9 June 2022, Competition closes: Wednesday 13 July 2022)

• Round 5 5(Competition opened: Wednesday 20 July 2022, Competition closes: Wednesday 14 Sept 2022)

• Round 66 (Competition opened: Tuesday 20 Sept 2022, Competition closes: Wednesday 9 Nov 2022)

Could you kindly provide the following application information, split by Rounds 1 to 6:

1. Total number of applications.

2. Total number of applications ineligible for assessment.

3. Total number of successful applications.

4. Total number of applications considered a resubmission of a previous application

5. Total number of successful applications which were considered a resubmission of a previous application.

6. The score of the lowest scoring funded project.

7. The score of the highest scoring funded project.

8. The score of the highest non-funded project.

9. The average (mean) score of funded projects.

10. Average loan value for funded projects.

11. The number of assessed applications by theme area: Net Zero, Health and Wellbeing, Next generation digital technologies, Technology families.

12. The number of successful applications by theme area: Net Zero, Health and Wellbeing, Next generation digital technologies, Technology families.

13. The number of projects invited to a detailed credit analysis check.

14. The number of projects invited to detailed credit analysis check (as in Q9) but not funded due to credit analysis results or a failure to meet loan offer conditions.

15. The number of applications progressed to detailed credit analysis but not funded due to withdrawal.

Response

Response Sent: 19 May 2023

Full details of this response are provided in the attached document.

Documents

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