Faraday Battery Challenge Investment Readiness Programme 2024

Overview

To date, the Faraday Battery Challenge delivered by Innovate UK, has run three previous cohorts in 2021 – 2023 with 90% of companies going on to achieve a positive outcome and/or raising capital. We are delighted to open our 2024 programme for SMEs in the battery sector who are seeking to accelerate their investment raise!

The programme will support you to hone your pitch to investors, get a better understanding of the funding landscape, prepare your investment materials and be more confident in delivering a compelling commercial story. The programme will be led by Innovate UK Business Connect with support from the Faraday Battery Challenge as well as expert coaching delivered by Mountside Ventures and Stronger Stories. The programme will provide regular touch points with investors to help you navigate the fundraising process, make new connections and kick start your investment journey.

We focus on developing and championing diversity of talent which we know will create a stronger battery system for the UK. We strongly encourage applications from under-represented groups and female applicants.

Selected SMEs will join a 12 week programme of workshops led by Innovate UK Business Connect and supported by experts and investors including one to one mentoring sessions. At the end of the Programme, you’ll have developed an investor pitch, finished your proposition and you’ll have a defendable understanding of your IP, finances and future plans. The Programme will culminate in a live showcase event where the cohort will pitch to an audience of investors interested in the battery sector. If you would like to apply to take part, please complete our application form at the link below.

Eligibility

• UK based SMEs
• Organisations active in battery technologies for transport and energy storage.
• Organisations working across the battery value chain (including cell materials and components, cells, modules and packs, recycling & enabling technologies)
• The programme is open to new participants only. If you have participated in the Faraday Battery Challenge Investment Readiness Programme 2021/2022/2023 then you will not be eligible to re-apply.

We are interested in applications from SMEs in the electric vehicle battery sector that are at a demonstrator stage of development. If you are at an earlier stage of development, please reach out to us to discuss.

Proposed timetable

• Deadline for applications: 5pm, 22nd August 2024
• Applicants notified: 6th September 2024
• Cohort “get to know you”: 17th September (virtual) 2024
• Workshop on Narrative and Storytelling: 19th September 2024
• 3 x Fundraising Workshop 1: Sept – Nov* 2024
• Pitch practice session: 5th November 2024 (in-person)
• Panel to select companies to pitch at Showcase: 21st November 2024 (virtual)
• Showcase of selected companies to UK investors: 4th December 2024 (in-person, London)

*The dates are subject to change and will be confirmed to successful applications.

Mentoring support will also be available throughout the programme.

You can review a copy of the T&Cs here. Successful applications will be required to sign and adhere to these.