The Innovate UK Process:
It’s been a while since I did an update on what’s going on behind the scenes at LR HQ and that’s because we’ve mainly been waiting on the result of an Innovate UK application. At the end of May, we submitted an application that was the most intense application I’ve ever written. I had input from various individuals from around four companies, and we were splitting the project into three partners; the NCC, PES Performance and Lucy Rose.
I put my heart and soul into the application, was up until 11pm editing and adding bits until the deadline. I was confident I’d done the best job I could have done.
Last Friday was results day. I could barely go on my computer because what we could have achieved with the money we’d applied for would have been huge. I thought we had a good chance, a better chance than any previous application.
The setbacks keep on coming:
Alas, it was once again not to be. The email said the word ‘unfortunately’ and my heart sank for the fifth time with Innovate.
We’re an innovative company pushing boundaries in the fashion industry, wishing to make everything here in the UK with a sustainable focus who needs some funding to help develop the technology before entering the market. I thought we’d ticked the boxes. I thought this was our time.
We scored 76.8% (a score which would have been funded two years ago) and 9% off the lowest funded score. There were over 2,600 applicants and only around 4% get funded. It’s an increasingly tough competition, especially in today’s world.
Yet another setback on the entrepreneurship journey, packing the punches into the gut. An opportunity to get up and running taken away from me because I’m targeting the ‘haves’ as opposed to the ‘have-nots’ (apparently not a great look for a public funded body).
How I deal with the rejection:
Luckily for me, I am able to use these no’s as fuel to my fire. It’s a shame we don’t get to know who is behind the ‘Assessor’s’ because I can’t wait to show them the tax bill I’ll be putting back into the UK economy one day with pride.
I’ve always had Plan B up my sleeve in case of this scenario and I’ll be ploughing on with the next prototype regardless. Here’s to the next steps…