FOI release

FOI2023/00121: Innovation Loans Round 8 Assessor Scoring Matrix and Training Materials

This request was refused in part, so we didn't provide some of the information the requester asked for. This may include information where we can neither confirm nor deny that we hold it.

Case reference FOI2023/00121

Published 21 June 2023

Request

Request Received: 10 March 2023

I am requesting under the Freedom of Information act the following, to aid with my understanding of the current process for assessing and determining an organization's suitability for funding with regards to the Innovation Loan competition stream - including the credit analysis steps.

In a similar vein to (FOI2022/00161 and subsequent IR2022/00188), I am seeking the including the assessor scoring matrix and training materials relating to the Innovation Loans Future Economy Competition - Round 8

(Competition opens: Friday 13 January 2023

Competition closes: Wednesday 8 March 2023 11:00am).

Specifically, I am writing to request:

1) the scoring criteria / assessment matrix for the assessment of the Application questions (1-6) within the Innovate UK portal (1. Applicant location (not scored); 2. Project proposal; 3. Market opportunity; 4. Project delivery; 5. Project risks; 6. Project costs and value for money).

2) the scoring criteria / assessment matrix for the assessment of the Business and financial information (Part B of your loan application)

3) A detailed step-by-step description of the process decision pathway followed by the employee/representative of Innovate UK Loans Ltd's credit team to assess the organisation suitability to receive a loan - including a detailed description of the financial / risk calculations performed in order to determine:

* affordable to your business

* appropriate for debt finance

* supported by a management team with sufficient technical, financial and commercial expertise

* in need of financial support from the public sector.

Where relevant please include the absolute parameters considered and minimum threshold values/assessment criteria for financial health.

4) A detailed step-by-step description of the process decision pathway and assessment parameters for the detailed credit analysis phase.

5) The training documentation provided to IUK employees for performing credit analysis.

If information relating to round 8 is not available due to active assessment, information from a previous closed round (4, 5, 6, 7) will likely work.

Response

Response Sent: 12 May 2023

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

Documents

• FOI2023-00121 Assessor Guidance Feb 2022.pdf (154.0 KB)
• FOI2023-00121 Innovate UK Innovation Loans Credit Process_Redacted.pdf (3.3 MB)
• FOI_Response_Letter_FOI2023_00121_Redacted.pdf (331.3 KB)

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