SMEs transforming food production: series A investor partnership
UK registered SMEs that are transforming food production towards net zero can apply for a share of up to £5 million in grant support. This must align with a series A investment.
The total eligible project costs you submit must be between £1 million and £3 million for experimental development. Up to 45% of costs can be covered by ISCF funding depending on business size.
This competition will support UK registered micro, small and medium-sized enterprises (SMEs). The SMEs must be aspiring to transform food production through experimental development projects that are closer to market.
Your UK registered SME will receive:
- grant funding
- aligned investment funding from the programme’s pool of lead investors
The grant funding is from the Industrial Strategy Challenge Fund (ISCF) Transforming Food Production challenge.
As well as investment, the lead investors in the pool can provide you with commercial acumen, such as:
- market access
After you apply, to be offered grant funding your project must have:
- been assessed as eligible for grant funding
- been successful in demonstrating how your project meets the overall aims of the ISCF Transforming Food Production Challenge
- secured aligned investment with a lead investor from the pool
We are seeking SMEs with high growth potential that aspire to transform food production towards net zero emissions by 2040. To secure grant funding you must also secure investment of at least twice the amount of grant through one of the lead investors associated with this programme.
Your project must:
- have total eligible costs between £1 million and £3 million
- start by 1 October 2021
- end by 31 March 2023
- last 18 months
This competition is open to single applicants only.
To apply, your organisation must:
- be a UK registered micro, small or medium-sized enterprise (SME)
- carry out its project work in the UK
- intend to exploit the results from or in the UK
- be prepared to negotiate head of terms for an aligned series A investment