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

Applications are currently closed but you can express an interest for future schemes below

Raise grant funding alongside angel investment

Support to build your case for funding & investment

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

About the programme

Following a successful pilot, we’ve once again partnered with the UK Business Angels Association (UKBAA) to deliver a second phase of an Innovate UK funded Regional Angel Investment Accelerator (RAIA) scheme.

The scheme enables early stage innovation-led businesses to simultaneously raise non-dilutable grant funding alongside Angel investment to undertake an R&D project.

If selected for the programme, you will benefit from professional support from SETsquared to prepare your grant application to Innovate UK, whilst your investment opportunity is simultaneously promoted to the Angel networks via our partner UKBAA. There are currently 12 Angel networks involved in this scheme and this is growing rapidly. These Angel investors specifically interested in early-stage, deep tech/science-based businesses investments.

The pilot scheme successfully funded nine companies – SpaceForge, Okko Health, Anaphite, Ceryx Medical, Goal Shaper, NuNano, Think Cyber, Kaydiar and Kelpi – with £820k of grant funding leveraging £2m Angel equity investment. Find out more about these companies here.

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 – £100,000
  • 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 equal to the amount provided by the grant.

Register your interest (Applications closed for 20/21 funding)

Applications are currently on hold for this scheme however if you would like to register your interest for future programmes please fill in the form below or contact [email protected]

Express your interest

Regional Angel Investment Accelerator

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