
Funding available
The Iceni Fund is fully invested and currently closed for applications.
Pathfinder awards - up to £25,000
This is usually the first step in seeking funding for a full application but does not necessarily lead to one. Pathfinder awards are grants made to the Partner Institution and can cover any of the following activities:
- External services, such as market research, technical evaluation or business planning
- Patent consolidation research, such as exemplification/reduction to practice
- Pre-commercial demonstration and/or prototype development
In the event the pathfinder project does not proceed to the next stage, the award is not repayable.
Full awards - up to £500,000
Full awards are equity or convertible loan investments into a spin-out company. If the pathfinder award leads to a full award, the pathfinder will also be converted to equity on the same terms at the first round of investment. Iceni will typically seek to take a significant minority equity shareholding in the company.
Iceni can invest up to £500,000 per project but most investments are around £200,000, usually in tranches against technology or commercial development milestones.
Licensing awards - up to £200,000
Licensing awards are made to the Partner Institution where licensing is the chosen commercialisation route. Iceni will typically take a share of licensing revenues from the project.
Interested in applying?
If you are considering applying for Iceni funding, please discuss your proposal first with your Iceni representative, who can advise you on suitability.