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<p>Innovate UK, the Government’s innovation agency, funds and connects business-led
innovation. Innovate UK currently provides funding for research, development and demonstration
projects through four broad sector-based programmes and an open programme. Over 11,000
projects have been funded to date, with over 8,000 unique organisations involved and
further support will be provided through the new Industrial Strategy Challenge Fund</p><p>In
some cases, industries are too new and too small to have well-developed sectoral institutions,
but companies could still benefit from starting to build a stronger partnership with
the Government, particularly to overcome the regulatory issues that often affect new
industries. The Challenger Business Programme works with businesses in these areas
applying new technologies, innovative products and services, and transformational
business models. The programme is founded on collaboration between businesses, regulators,
and the Government. It aims to gain a full understanding of the issues facing businesses
operating within emerging sectors and agree a set of actions for different partners
to take forward, driving growth and boosting the UK’s comparative advantage.</p><p>Innovate
UK’s connecting activity also provides direct guidance and assistance to businesses
by helping them navigate the full range of support opportunities that exist, primarily
through the Knowledge Transfer Network and the Enterprise Europe Network.</p><p>Start-Up
Loans are available for those starting a business but lacking access to the necessary
finance or support to realise their ambitions.</p><p>In terms of wider support, Start-Up
Loans are available for those starting a business and the British Business Bank’s
Finance Guide provides information on the different types of financial support available
to businesses. There is also a network of 38 Growth Hubs which provide businesses
with other sources of support.</p>
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