Description:
Reporting to the Deputy Director, Lending & Investor Partnerships, you will be part of a team with responsibility for driving the take up of innovation loans by businesses undertaking innovation activity with a clear route to success. Innovation loans aim to deliver impact through supporting SMEs to grow at scale, one of the objectives of Innovate UK described in our Plan for Action. To date, £185m in innovation loans has been committed to around 230 businesses. A further £150m is available to commit during this Spending Review period within the scope of the Future Economy, described in the Plan for Action. The role includes responsibility for working with Innovate UK’s Future Economy, Equality, Diversity & Inclusion, Competitions, Credit and Lending Operations teams on programme delivery and with Innovate UK KTN, Innovate UK EDGE, Catapult and many external stakeholders and intermediaries on engaging suitable applicant businesses for innovation loans.
Key Responsibilities and Accountabilities:
To lead the delivery of Innovate UK’s innovation lending activities to originate suitable opportunities:
- Lead in the delivery of the £150m innovation loans programme across the Spending Review period, to create and manage demand in the marketplace and attract suitable applicants for loan products that meet the needs of innovative businesses (particularly those seeking to scale) to enable them to deliver economic impact, while also ensuring the proper use of public money
- As one of the primary internal and external facing leads for innovation loans, promote the programme to businesses, investors, public and private sector intermediaries and other parts of UKRI and government to generate suitable demand for innovation loans
- As part of the Investment Directorate and in line with Innovate UK policy, provide visibility and insight into Innovate UK’s innovation lending activities in both public and private sector forums
- Build effective working relationships within the Innovate UK family (including Future Economy, Equality, Diversity & Inclusion, Competitions, Credit and Lending Operations teams, Innovate UK KTN, Innovate UK EDGE and Catapults) and with key business support organisations such as LEPs, Growth Hubs, accelerators, incubators, professional services firms, investor groups (including UKBAA and BVCA) and commercial lenders in order to identify innovative, scaling SMEs and to promote innovation loans to them
- Develop a data-driven understanding of the drivers of success for innovation loans applicants and ensure that this is reflected in process improvement for more effective programme delivery
- As one of the organisation’s subject matter experts for lending and business growth, engage across Innovate UK, contributing to the growth and development of the organisation
- Support with ad-hoc project work as directed by senior management
- In agreement with the Deputy Director, Lending and Investor Partnerships, identify and implement plans for your own personal learning and development, evolving the role over time to meet the needs of the organisation.