Non-dilutive money exists and most founders don’t look for it. You keep 100% of your equity.
Grants are funding you don’t have to pay back and don’t cost you equity. They exist at local, national, and international level, and most early-stage founders either don’t know about them or assume they’re too hard to get. They’re competitive, yes. But the money is real and the process is worth understanding.
Innovate UK (through UKRI) runs the main national programme for innovative businesses. Their Smart Grants are open to any UK-registered company, assessed quarterly, and cover projects from feasibility studies to large-scale R&D. Local Enterprise Partnerships (LEPs) offer regional grants. And many local councils have small business grants that are less competitive and faster to access.
Grant applications are slower than raising from angels. Expect 4 to 8 weeks to prepare a strong application and 3 to 5 months from submission to decision. Success rates for Innovate UK Smart Grants sit around 10 to 15%, so don’t put all your eggs in one basket.
Read the criteria properly. Seriously. Most rejections happen because the application doesn’t address what the assessors are looking for. Explain the innovation clearly, show evidence of market demand, and be specific about how you’ll use the money. Ask for feedback if you’re rejected. Many programmes offer it and it makes your next application stronger.
If grants are relevant to your business, YourGrantBuddy.com helps founders find and apply for the right programmes.
What good looks like: A founder who applies for two or three relevant grants alongside their equity fundraise, treats grant money as a way to extend runway without dilution, and uses rejection feedback to improve the next application.
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Try the programme finder →This is general information, not financial or legal advice. Always do your own research and seek independent professional advice.