Documents
Smart Grant impact evaluation report (PDF)
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Smart Grant impact evaluation report: technical annex (PDF)
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Details
This evaluation assesses the impact and value for money of Innovate UK’s Smart Grants programme from 2019 to 2020 to 2024 to 2025, focusing on its effects on early stage small and medium-sized enterprises.
The findings indicate that the programme increased research and development activity, supported technological progress, and contributed to business growth and follow on investment. It operated on a competitive basis, with strong demand for funding reflected in both successful and unsuccessful applicants.
Outcomes varied across projects, reflecting the risks of early stage innovation, but overall the programme generated positive economic impacts and delivered value for money.