Defence: Innovation
(asked on 16th November 2022) - View Source
Question to the Ministry of Defence:
To ask the Secretary of State for Defence, what the average value is of loans under the Defence Innovation Loan scheme since it was launched.
This question was answered on 21st November 2022
The Defence and Security Accelerator (DASA) and Innovate UK launched Defence Innovation Loans in June 2021 to help small and medium enterprises convert their mature defence innovation into a strong business proposition for defence procurement.
As at 31 October 2022, since launch, six Defence Innovation Loans have been committed at a value of £4,683,301 making the average loan value £780,550.