Defence: Innovation
(asked on 17th November 2022) - View Source
Question to the Ministry of Defence:
To ask the Secretary of State for Defence, what the total allocated funding for the Defence Innovation Loan scheme was in (a) 2020-21, (b) 2021-22, and (c) 2022-23.
This question was answered on 24th November 2022
The Defence and Security Accelerator 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.
In Financial Year (FY) 2020-21 the allocation was £0.
In FY 2021-22 the allocation was £5 million.
In FY 2022-23 the allocation is £10 million.