Securing grant funding for your business is a huge moment for any business.
However, independent research from Beauhurst has shown that Innovate UK funding isn’t just a free cheque.
Beauhurst followed businesses that receive Innovate funding to see how they do over time compared to similar businesses that don’t receive Innovate funding.
Remarkably, they found that businesses successful in winning Innovate UK funding on average raised 20-25% more at next fundraising and were twice as likely to exit as similar businesses that were unsuccessful.
Innovate UK is a powerful primer for later investors and shows how grant funding is something that stays with your business long after the money is spent.