FOI2023/00762: Innovation Loans - Rounds 7 to 10
Case reference FOI2023/00762
Published 1 February 2024
Request
Request Received: 5 October 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 2022/2023 - Rounds 7 to 10:
• Round 7 (Competition opened: Thursday 10 November 2022, Competition closes: Wednesday 11 January 2023)
• Round 8 (Competition opened: Friday 13 January 2023, Competition closes: Wednesday 8 March 2023)
• Round 9 (Competition opened: Thursday 11 May 2023, Competition closes: Wednesday 12 July 2023)
• Round 10 (Competition opened: Saturday 15 July 2023, Competition closes: Wednesday 13 September 2023)
Could you kindly provide the following application information, split by Rounds 7 to 10:
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 Q13) 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: 2 November 2023
Full details of this response are provided in the attached document.
Documents
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