Funding challenges for Scale-ups: Introducing the New Innovation Loans by Innovate UK

Brought to you by Cambridge Wireless

Innovate UK has announced a £50m pilot programme of Innovation Loans. To introduce innovation loans, CW and Innovate UK are holding an event aimed at senior decision-makers in innovative SMEs and at key intermediaries in professional services firms and the public sector support landscape.

Registration for this event is now closed.

About the event

At this event Innovate UK will explain the rationale for innovation loans and where they sit in the landscape of innovation support, outline the key features and obligations of the loans and explain how they will be delivered and operated. We will then have a panel discussion with key participants in the Cambridge innovation ecosystem.

Innovation loans will offer affordable, patient, flexible, repayable funding for later-stage research & development projects with a clear route to commercial success.  Loans will be offered through competitions to growth-oriented SMEs that are able to demonstrate that they have a high quality innovation project, that they will be able to afford the interest payments and subsequent repayments associated with a loan and that they need public sector support as they are unable to access finance for their project on standard commercial terms.

The first loan competition, for first of a kind technology deployment in Infrastructure Systems, is currently open for applications. 

Further information can be found here:
https://apply-for-innovation-funding.service.gov.uk/competition/77/overview.

We look forward to seeing you and telling you about this exciting new addition to the innovation support landscape.

You can follow @CambWireless on Twitter and tweet about this event using #InnovationLoans.

Agenda

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The information supplied below may be subject to change before the event.

16:30

Arrival, registration and networking

17:00

Opening remarks: Bob Driver, CW

Welcome and introduction.

17:05

Funding Challenges for Scale-ups: Simon Thorpe, Delta2020

Introduction to typical funding challenges for scale up companies from Simon's experience.

17:15

Introduction to Innovation Loans: Nigel Walker, Innovate UK

Small businesses with ground breaking ideas will be able to access new innovation loans.

The first competition for the government-backed loans was launched recently and will allow businesses to access between £100,000 and £1 million on flexible, affordable, repayable terms. This is the first time Innovate UK has offered a new funding mechanism other than matched grants. Innovation loans will offer funding to suitable SMEs for later-stage research & development projects with a clear route to commercial success. Nigel will explain the rationale for innovation loans, their positioning, their key features and the process for applying through Innovate UK competitions.

18:30

Panel discussion: Carol Cheung, Peter Cowley, Simon Thorpe, Nigel Walker

19:00

Networking

19:30

Event close

Speakers

Carol Cheung - Investment Associate, Cambridge Innovation Capital

Carol is an Investment Associate focusing on a range of technology investments. Prior to joining CIC she worked in a variety of roles at several UK-based early stage tech companies, most recently as Commercial Director of a Cambridge-based speech recognition start-up and as the VP of Finance for an Adtech business in London. She has a background in financial analysis gained from working in both in the UK and Canada. She holds a B. Comm from the University of Toronto, gained an MBA from the University of Cambridge’s Judge Business School and is a CFA charterholder.

Peter Cowley - Chairman of Cambridge Angels & President of the European Business Angel Network (EBAN), Cambridge Angels, Director, Camdata

Peter Cowley, a Cambridge university technology graduate, founded and ran over 10 businesses in technology and property over the last 35+ years. He has built up portfolio of 60+ angel investments with 3 good exits and several failures. He is the WBAF Best Angel Investor of the World and was UK Angel of the Year 2014/15. He has mentored hundreds of entrepreneurs and on the board of eight startups. In 2011, he founded and has since run Martlet: a Corporate Angel, investing (currently £5+M) from the balance sheet of Marshall, a £2bn revenue Cambridge engineering company. He is chair of the Cambridge Angels and is a fellow in Entrepreneurship at the Judge Management School in Cambridge and has recently been appointed as the President of the European Business Angel Network (EBAN). He is a non-executive director of the UK Business Angel Association and on the investment committee of the Angel Co-fund. He has also had 16 years’ experience as chair, treasurer and trustee of the boards of seven charities and is voluntary equity finance chair for the Federation of Small Businesses. He is sharing his and others’ experience and anecdotes of angel investing by publishing online and offline – see www.investedinvestor.com

Robert Driver - Senior Advisor, UKTIN

Bob currently is a senior advisor for the UK Telecoms Innovation Network (UKTIN), having been interim head of this new organisation to February 2023. Bob has helped to create an innovation network for the UK Telecoms industry, bringing together industry, academia, and government to catalyse telecoms R&D investment, cooperation, and commercialisation.

Founded in 2022, UKTIN is delivered by a consortium of four partners - who draw on their distinct strengths in a collaborative approach: The Digital Catapult (Lead), Cambridge Wireless, WM5G and the University of Bristol. UKTIN has been initially funded by the UK Department for Science, Innovation and Technology to drive the Telecom Supply Chain Diversification Strategy.

From 2018 to October 2022 Bob led the UK5G programme on behalf of CW. CW was the lead partner for a consortium chosen by the Department of Digital, Culture Media and Sport, to create and deliver the national 5G Innovation Network. The consortium included CW, the KTN and TM Forum. UK5G brought together and marketed the UK’s 5G eco-system - including the national Testbed & Trials programme along with other business-led 5G initiatives.

Bob was CEO of CW from May 2015 to November 2018 focusing on leading the development of the organisation, broadening its reach with other sectors and clusters, while retaining the unique culture and dynamism of the CW community.

Prior to working at CW, Bob was Director for Technology at UK Trade & Investment (now part of the Department for Business and Trade) where he successfully led national teams helping UK tech companies to access overseas opportunities as well as attracting technology inward investment into the UK. He also coordinated the UKTI science and innovation agenda and was responsible for the delivery of UKTI events from small missions to large trade fairs.

Simon Thorpe - Managing Partner, Delta2020

Simon is a Chartered Accountant and researched quoted companies at UBS for 22 years.

He is an angel investor, entrepreneur, coach, mentor and acts as NED to technology companies. Managing Partner at Delta2020, a board member of CCG, Cambridge Angels and Angel Academe. Participating mentor for Angel Academe’s female entrepreneur programme and the University of Manchester.

Simon’s portfolio consists of over 30 companies; including Cambridge-based Eagle Genomics, Healx, Myrtle, RoadMap, Spectral Edge and ViewRanger.

CJBS Entrepreneurship Fellow. UKBAA Angel Investor of the Year 2016/17. 

‘The digital revolution is the new industrial revolution’.

Outdoor enthusiast, cyclist and petrol head! 

Nigel Walker - Head of Innovation Lending, Innovate UK Business Growth

Nigel is developing new innovation lending products at Innovate UK as it evolves its funding models. Prior to this role, he headed the organisation’s support for innovative SMEs in gaining access to private sector capital to accelerate the journey from concept to commercialisation. Nigel has a background in the financial services industry, having spent over 10 years at each of Deutsche Bank and GE Capital. At GE, he established the European ‘Access GE’ programme, advising, coaching and mentoring management teams of businesses owned by private equity firms on operational excellence, acquisition integration, strategy development and leadership.

Event Location

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Location info

The Bradfield Centre, 184 Cambridge Science Park Milton Road, Cambridge CB4 0GA

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