Young Innovators Awards 2022/23
Young Innovators Awards 2022/23
Young people (aged 18-30 by 27th July 2022) can apply for an award that will help turn their business idea into a reality – including a £5,000 grant, a two days a week living allowance, and tailored business support.
Each Young Innovators Award Winner will receive a £5,000 grant, a two days a week living allowance, and tailored business support while they spend a year working on their business idea. It is anticipated that up to 100 awards will be given in 2022.
Innovate UK, part of UK Research and Innovation (UKRI), will invest up to £2.4 million in Young Innovators with this competition.
The aim of the competition is to find a new group of Young Innovators that, with our help, can turn their great ideas into successful businesses.
We are looking for young people who would benefit most from the Young Innovators Awards, including the financial support and tailored package of expert advice.
We will fund a portfolio of projects, selecting award winners who:
- have high potential to be future leaders in innovation or successful entrepreneurs and inspirational role model to others
- are most likely to benefit from the package of support on offer
- represent a diverse range of innovative ideas for business
- are located across all parts of the UK
This competition is open to sole applicants only. To be eligible for an award you must:
- be a UK resident who has the right to work in the UK, or will have the right to work in the UK for the duration of the award
- be aged from 18 to 30 on the date of competition closing
- have not previously received a Young Innovators Award from Innovate UK
You must be able to commit to:
- working on average for 2 days (15 hours) per week on your Young Innovators Award, including some weekday time to meet with your Innovation Champion
- attending 3 virtual bootcamps, each lasting 1 day (10am to 4pm) on 15 November 2022, 15 March 2023, 15 June 2023 and attend a further 1 day, in person or hybrid event with all Young Innovators on 14 September 2023
- engaging at least 4 days over the duration of the programme as a role model
Please note that you are eligible to apply if you are receiving support from The Prince’s Trust’s in-person Enterprise programme.
The aim of this competition is to find young people with great business ideas who have the potential to become future leaders in innovation and successful entrepreneurs.
Your project needs to:
- address a problem
- be innovative
- be significantly better than what is currently on offer including from existing businesses
We are looking to support award holders across the UK working on a wide range of business ideas, types, sectors, products, processes, and services. Your innovative idea can be:
- ready to be developed into a new business
- within an existing business
As an award holder you will receive:
- tailored business support including but not limited to; media and communications, branding, business planning strategy, leadership, funding and finance, innovation, and more
- a grant of £5,000 to cover eligible project costs, including travel to meet customers and partners, attending relevant training courses, equipment, hiring office space, and IT support
- a living allowance grant for 2 days (15 hours) per week throughout the duration of the award at an hourly rate matching the UK real living wage
The Young Innovators programme will start for successful applicants on 1 December 2022 and the support will be provided over a 12-month period. Please note that there will be a bootcamp beforehand on 15 November 2022 (see above).
For more information and to apply, please head to Innovate UK’s application page.
Diversity in businesses contributes to enhanced performance and commercial success. We welcome and encourage applications from people of all backgrounds and are committed to making innovation support more visible, accessible, and inclusive.
We can provide support for people who have a disability or long-term condition and face barriers applying to us. If you would like any support or advice, please contact Innovate UK’s Customer Support Service on 0300 321 4357 or firstname.lastname@example.org
An online briefing event will be held from 10am to 12pm on 14th June 2022 – REGISTER for your place today on the Young Innovators 22/23 Briefing Event page.
If you want further information about making your application, you can view the webinars and resources delivered by Innovate UK KTN.