Innovate UK Investor Partnerships, Battery Innovation Programme, £700K grant after the investor goes first
A £1 million battery research project at a micro or small company can get up to £700,000 from Innovate UK, but the project cannot start until an approved investor's investment of at least £700,000 is secured. Applications to the Investor Partnerships Battery Innovation Programme close on 25 November 2026 at 11:00am.
What it is, per the competition page and the applicant briefing of 9 October 2026: a grant for UK-registered SMEs doing battery R&D, paired with equity from an investor partner that Innovate UK has approved. The competition page says at least £5 million is allocated; the briefing slides say up to £5 million.
- Three project types. Feasibility studies: £50,000 to £300,000 total costs, 6 to 12 months. Industrial research: £100,000 to £1 million, 6 to 24 months. Experimental development: £250,000 to £2 million, 12 to 24 months.
- The grant share. Up to 70% of costs for micro and small companies and up to 60% for medium ones, for the first two types. In experimental development, 45% and 35%.
- The investor condition. The investment must be led by the investor partner, in new shares or convertible debt. It must at least equal the grant, or be twice the grant in experimental development. The briefing example: a £2 million project, a £900,000 grant, £1.8 million of equity.
- The gate. The named investor partner must file an expression of interest, or the application is ineligible. The briefing slides give 19 November 2026, 5pm, for that. Applicants hear by 26 January 2027, projects start by 1 May 2027, and the investment is expected to close within 90 days of the funding panel.
Who pays: the grant comes from Innovate UK, which delivers the Battery Innovation Programme for the Department for Business, Innovation, Science and Trade. A briefing slide shows £452 million for 2026 to 2030 under the programme name and does not say what it covers. The equity comes from the investor partner. The call does not name which of the approved partners will back battery companies.
Track record: for Investor Partnerships overall, not only batteries, Innovate UK reports since 2017 £168 million of grant to 417 SMEs, £448 million of aligned equity from 105 investor partners and £1.36 billion of later private investment. By our arithmetic, that is about £2.70 of equity for each £1 of grant. A year-one slide for the battery programme shows a £5 million Investor Partnership competition and "£35m+ private sector raise post Investor Partnership intervention".
Where the pages differ: the Business Connect summary gives 70% for the first two types and omits the 60% medium rate that the competition page and the briefing state.
Not published: how many applications or awards the earlier battery round had, and how many projects the £5 million will fund.