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Accelerate your growth & increase your company valuation by raising joint public & private co-investment

Applications are now open for Round 1

Raise grant funding alongside angel co-investment

Support to build your case for funding & investment

Opportunity to promote your company to a wide network of Angel investors

About the programme

Are you innovating to drive towards net zero, improve health & wellbeing or develop the next generation of digital technologies?

We are excited to announce that SETsquared is one of the selected Investor Partners for the launch of Innovate UK’s £80m Future Economy Fund. SETsquared will have full access to three ‘invite only’ rounds for 2022.

The scheme enables early-stage innovation-led businesses supported by SETsquared to raise non-dilutable grant funding, up to £900k, for R&D projects aligned to our Future Economies alongside Angel co-investment.

If selected for an invitation to apply, you will benefit from professional support from SETsquared to prepare your grant application to Innovate UK, whilst your investment opportunity is simultaneously promoted to SETsquared’s affiliated Angel networks. There are currently 15 Angel networks involved in this scheme and this is growing rapidly. These Angel investors are specifically interested in early-stage, deep tech/science-based business investments.

Who should apply?

The programme is open to applications from existing SETsquared Scale-Up members as well as any innovation-led SME with high growth ambitions based in the South, South West or West of England or Wales. You must be an early-stage SME raising investment for an R&D project that meets the Innovate UK criteria of being a feasibility study, industrial research or experimental development.

Angel investment networks interested in getting involved in the scheme should email [email protected] Angel investors who are interested to be connected to syndicates or to learn more about early-stage investing visit the UKBAA/SETsquared Angel Accelerator.

How the funding works

If selected, the scheme will enable your business to secure an Innovate UK grant alongside angel investment to fund a suitable R&D project.

  • The total eligible costs for the project are £50,000 – £2,000,000
  • The grant will fund up to 70% of the total eligible costs
  • Following standard Innovate UK open call process
  • This application runs in parallel with raising Angel investment to provide funding that is at least equal to the amount provided by the grant.

Express your interest

Applications are now open for Round 1. Please fill in the form below to register your interest or contact [email protected] if you have any questions about the programme.

Express your interest

Future Economy Fund

We value your privacy and will never pass your details on to third party organisations.

SETsquared is a partnership between

  • University of Bath
  • University of Bristol
  • University of Exeter
  • University of Southampton logo
  • University of Surrey