We have just released Funding Innovation, our in-depth study of Innovate UK grants and their recipients. The analysis covers half a decade of grant provision to young companies. It also examines the effect of equity investment when combined with grant finance.
How do grants and equity fundraisings support high-growth businesses? This is the question we wanted to answer with our first report looking in detail at both Innovate UK data, as well as our more widely-publicised equity fundraising dataset.
Download the full report here.
Our key findings:
The North West saw the most grant funding outside of London and the South East, and London – whilst still taking the most grant funding of any region – took a smaller proportion of grant funding than it takes of equity investment.
When it comes to universities, the University of Nottingham participated in the most successful Innovate UK funding applications, beating Cambridge by some way (Oxford trailed behind in 18th place).
The presence of Strathclyde and Cranfield here is notable: Russell Group universities secured almost double the funding of those outside the group, despite making up less than 19% of UK universities.
On average, companies that secured both grant funding and equity investment had higher pre-money valuations than those which secured equity alone.
To discover more and dig deeper into the data, download the report for free.