Next Wave: Breakthrough Wave 1 is an Innovate UK funding competition designed to support UK businesses developing innovative creative technologies with strong commercial potential. With a total funding pot of up to £10 million, the programme aims to accelerate industrial research projects that move promising innovations beyond proof of concept and closer to commercialisation.

The competition is open to UK-registered businesses, research organisations, universities, charities, and public sector organisations. Projects can be delivered by a single SME or through collaborative partnerships and should typically last between 9 and 12 months, with eligible project costs ranging from £100,000 to £500,000. Depending on organisation size, SMEs may receive up to 70% of eligible project costs.

Innovate UK is looking for projects that combine technical innovation with a clear commercial opportunity. Successful applications should demonstrate a genuine market need, a strong competitive advantage, a realistic route to market, and the potential to create economic growth, skilled jobs, and wider societal impact. Projects are expected to reduce technical and commercial risk while developing new products, services, platforms, or intellectual property that can be commercialised shortly after project completion.

The programme particularly supports businesses operating across the Createch sector, including video games, film, television, music, advertising, design, immersive technologies, and other digital creative industries. Projects that combine creative technologies with emerging digital innovation, such as artificial intelligence, extended reality (XR), data technologies, or advanced software platforms, are particularly well aligned with the competition’s objectives.

As this is a highly competitive Innovate UK programme, applicants should present a well-defined innovation, robust technical evidence, a credible commercial strategy, and a clear explanation of the project’s impact. Businesses that can demonstrate scalability, market demand, and a strong delivery team will be best placed to secure funding.