General guidance - Innovate UK


What happens if you are successful

What happens next will depend on how you applied.

If you applied through the Innovation Funding Service

If you have made an application through the Innovation Funding Service and are successful, you need to complete project setup before your project can start.

Your project and bank details must be complete within 30 days of our notification to you. Project setup, including any requested agreements or documentation, must be complete within 90 days or funding could be withdrawn.

Your project must not start until you have receipt of a signed and approved offer letter.
You will receive full instructions and guidance for project setup in the Innovation Funding Service.

If you applied through the FTP site

If you applied for a funding opportunity that uses the FTP process you will be sent a conditional offer letter that you must sign and return before the project can start.
Any additional documentation that you are asked for will need to be completed and returned within stated timelines.

Once you have submitted all documentation

We will review your total eligible project costs to check that they meet our funding criteria. You may be asked to provide further information on the detail in your finance forms.

Financial viability checks are made on all industry partner organisations, also known as an undertaking in difficulty test.

If your project is a collaboration you will be asked to provide a collaboration agreement. You can find an example of a collaboration agreement in the Lambert toolkit.

We may choose to promote your project as part of our communications.

Ask a question about public relations or media coverage


Contact Innovate UK EDGE

If you are a UK SME and successful in receiving an award, contact Innovate UK EDGE. Innovate UK EDGE is a key part of the UK innovation agency’s investment in the innovative businesses that drive economic growth. It complements Innovate UK project funding with intensive, specialist-led support for such ambitious businesses.

Monitoring officer

You will be assigned a monitoring officer who will work with you throughout the project. They will help to make sure your project complies with our terms and conditions. They are not responsible for project management.

Claims and auditing

Costs are only eligible if they are incurred and paid between the project start and end dates. Claims may be subject to an independent audit. You must submit an independent accountant’s report (IAR) with your final claim.

As standard, funding should be claimed quarterly in arrears. Once audits and reports are complete and approved, the claims are released.

All participants must provide evidence to support each claim made.

Claims must be paid into an account in the name you have applied to be able to receive grant payments.

Your banking provider must have a clearing facility and must be authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA).

If your bank provider does not have a clearing facility, we can accept it if there are no sanctions and it is authorised by the PRA and regulated by the FCA.

If Innovate UK has not paid grant payments to you before, we will request details in the form of a redacted bank statement in a PDF format.

Ask for more information about claims and auditing

Telephone: 0300 321 4357

Last updated: 17 August 2021

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