New £10 Million 'Next Wave' Funding Competition Opens for Creative Tech Innovators
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Funding Competition Opens for Creative Tech Innovators
A major new funding opportunity has launched to help forward-thinking businesses push the boundaries of creative technology. Innovate UK’s latest competition, Next Wave: Breakthrough Wave 1, is offering a share of up to £10 million to support early-stage, industrial research projects.
If your business is working at the intersection of high-growth creative industries and advanced digital technology, this grant could provide the vital support needed to take your ideas beyond the proof-of-concept stage and de-risk future investment.
What is the funding for?
The competition is designed to accelerate growth in “Createch”, where creative creativity meets technological innovation. Specifically, the funding targets commercial digital platforms and services within four key frontier industries:
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Video games
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Advertising and marketing
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Film and TV
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Music, performing, and visual arts
Projects must demonstrate a highly ambitious, innovative idea that solves an industry challenge, creates a new revenue stream (such as a new product or IP), and can be market-ready within 12 months of finishing.
Who can apply?
To lead an application or apply as a single applicant, your business must be a UK-registered micro, small, or medium-sized enterprise (SME). Collaborative applications are also welcome, allowing you to partner with other businesses, research organisations, or public sector bodies.
Project sizes and timelines
Funding type: Grant
Project sizes: Total eligible costs must be between £100,000 and £500,000.
Duration: Projects must last between 6 and 12 months, starting by 1 January 2027.
How to apply
The application process is managed online through the Government’s Innovation Funding Service. You will need to answer a series of questions detailing your project’s scope, team, market awareness, and potential economic impact.
Competition opened: Tuesday 23 June 2026
Competition closes: Tuesday 11 August 2026 at 11:00am
As the application requires detailed project costs and impact breakdowns, it’s highly recommended to start your application early.
For full eligibility criteria, detailed scope guidelines, and to start your application, visit the official GOV.UK competition page.
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