This scheme aims to fund novel and ambitious innovation activity based on LSE research and early-stage impact, that seeks to translate research into new products, processes, and services for a target audience or customer. Successful proposals will have ideas for innovative products, processes, and services, or the development of innovation pathways and evidence, and business and commercial skills.

Scheme priorities

In line with LSE Research for the World objectives, this scheme aims to support innovation activities at any stage of development, from early ideas and problem definition through to the incorporation of spinouts or startups.

We expect innovation to be embedded in commercialisation processes and technology transfer mechanisms intended to generate revenue, but welcome applications from those interested in exploring not-for-profit or social enterprise routes, as well as more purely commercial ventures. Irrespective of the proposed business structure, though, we will look for indicators of potential for future financial self-sustainability. 

Funding available 

The total available funding for the scheme is £100,000 per year.

Projects can ask for funding up to £20,000, for projects lasting up to 12 months. If you require funding for an ambitious project at a larger-scale please contact the Innovation team who can provide support and advice for ambitious ideas leading to significant impact activities and evidence. Projects must be ready to start within a month of awarding.

Timetable 

Deadlines for 2024/25 are as follows:

Eligibility to apply 

Principal Investigators

• You must be a member of Faculty, Research and Policy Staff, Teaching Staff* and LSE Fellows as listed in LSE HR Role Profiles, including in practice roles. 

*Teaching Staff must demonstrate the proposed project is in line with their teaching field. 

• You must have a contract of employment with their Academic Unit at LSE in place for the entire project duration, and be able to demonstrate continued links with LSE into the future. Projects cannot be used to extend LSE contracts of employment.

• Current Students, Graduate Teaching Assistant (GTA), Emeritus, and Guest Teacher role holders may not apply. 

• You may only apply once per round across all schemes.

Academic Units

• Applicants must confirm that they have the full support of their host academic unit as part of their application. An award letter co-signed by the hosting unit lead will be required at award stage.

Current Project Holders

• Previous awardees of internal funding must confirm the submission of the final report of closed projects.

• You may not hold more than one project on the same scheme at any one time (either as PI or Co-I). 

Application process

If you are considering making an application, we strongly encourage you to contact the innovation@lse.ac.uk team  as soon as possible and no later than 2 weeks before the application deadline.

All applications are submitted through the Internal Funding Application Form.

You can find the guidance for the application form here. (LINK)

Costing your application 

If you are including any LSE staff costs in the budget it is mandatory to contact the innovation@lse.ac.uk team as soon as possible and no later than 2 weeks before the assessment deadline.

The following costs are eligible for this scheme:

• Directly Incurred Salaried research and policy staff costs within the project and contract periods.

• Directly incurred non-staff costs such as travel, fieldwork, consumables, goods, equipment, services, and consultants (including associated fees and taxes).

• Hourly Paid Staff costs for occasional research assistance and clerical support.

Specialist costs to make project activities more accessible are also eligible, such as:

• Costs for care of dependents where it is unavoidable.

• Costs to make adjustments within travel and accommodation bookings for staff who need them.

• Cost to make sure outputs are accessible (both for researchers and stakeholders, such as braille printed books or pamphlets). 

• Costs of specialist contractors that are working on EDI supporting activities, such as audio transcription for events, etc. 

• Costs to make events more accessible including specialist venues and supporting staff.

The following costs are not eligible under this scheme:

• Directly Allocated (LSE NAC Staff) salaried staff costs.

• Collaborator or partner staff costs. 

• Indirect (overheads) and estates (space) charges of LSE or any Partner or Collaborator.

• Open Access fees and article processing charges covered by the Open Access fees and article processing charges covered by the Open Access Fund

• DI teaching contract or hourly paid teaching costs are not eligible.

If you are unsure of the kinds of non-staff costs you can include in your project, please explore the list below:

• Proof of market including market research, technical feasibility reviews, competing technology analysis, external IP reviews, market visits or external networking to establish market need.

• Proof of concept including further market validation of technology and competitive advantage and technology development.

• Costs of applying for a trademark or patent, or any associated costs. 

Review and selection

Applications will be sent for peer review and selection by the Impact & Innovation Panel

Assessment criteria

Applications will be assessed against the following criteria. In the event of highlight topics, agreed at the first Panel meeting of the year, special additional criteria on the theme will be incorporated into this selection criteria. 

Peer review process

• Every application will be reviewed by three Peer-Reviewers who are members of the panel.
• Peer-Reviewers must score and add a comment for each of the criteria in the Peer-Review Spreadsheet they are sent for their applications.
• Peer-Reviewers are asked to score 1-4, using half marks as needed.

The scores for criteria 1 and 3 will be used to rank applications and comments from scores 2 and 4 will be used for context in the Panel discussions to reach consensus on the final decisions to award.

Outcomes

All applications will receive feedback from the selection process within the timelines stated above. Projects are awarded based on the information received during the application process and subject to any Panel conditions.

Unsuccessful applicants may apply again provided the project is new or is developed in line with feedback.

Successful awardees may be contacted with requests to peer review similar applications.

Managing your award

Principal Investigators must comply with the following rules:

• Confirm that they have the full support of their host academic unit. An award letter co-signed by the hosting unit will be required.
• Manage the project funds in line with LSE financial regulations.
• Contact the R&I Funds Manager to request virements and extensions to awards.
• Comply with LSE polices for research governance, ethics, data management, intellectual policy and other policies relevant to their research.
• Engage with in-flight monitoring meetings including information requests for research communications and publicity.
• Ensure that processes and projects are compliant with good research practices, ensuring transparency and accountability.

Project changes in duration, team, costs and objectives will only be permitted in exceptional circumstances and always subject to further review by the R&I Funds Manager.

Project closure and reporting

Principal Investigators must complete a final financial report within 3 months of project end date.

Principal Investigators will be required to report on the activities, outputs, and outcomes of their research project in a final report, not more than 12 months after the end date of the project.

Full details of the reporting templates will be provided at the point of award.

Support

Please contact the innovation@lse.ac.uk team for guidance on your application.

General queries, feedback and comments on this scheme can be sent to ri.internalschemes@lse.ac.uk