The Defence and Security Accelerator (DASA) is pleased to launch Cycle 2 the Defence Innovation Loan competition, which has £10 million to lend for innovative defence solutions.
Accessible to SMEs, and with a below market interest rate of 7.4% per annum, the Defence Innovation Loan provides an excellent opportunity to apply for affordable funds to help you commercialise your defence solutions.
Defence Innovation Loans: An introduction
How to apply?
Check out the full document and submit your idea.
Have questions? Speak to the experts at our upcoming webinar
DASA and Innovate UK will host a live webinar to answer all of your questions about Defence Innovation Loans, on Thursday 9th September. This is a great opportunity for you to ask questions to our panel of experts from both organisations, so you can ensure your application is a success.
Register Now
Catch up on our previous webinar
We received some great questions during our last Defence Innovation Loans webinar. Catch up on what you missed here.
How much is available for a Defence Innovation Loan?
The total of £10 million is available for the Defence Innovation Loan competition this year, of which comprises £5M from the Defence Innovation Fund and £5M from Army.
You can apply for a loan between £250,000 and £1.6 million with a below market interest rate of 7.4% per annum. This loan can cover up to 100% of eligible project costs to aid the commercialisation of the solution and overall term of the loan must not exceed 7 years.
Please note, Innovate UK will carry out the Defence Innovation Loan credit evaluation of this competition and you will enter into a loan agreement and security agreement with Innovate UK Loans Ltd.
