As Innovation Loans moves from pilot to BAU, it is exploring its evolving business model and seeking professional advice and support around its regulatory status and related compliance functions.
FCA Registration – ITQ
Department for Business, Energy and Industrial Strategy
- Legal advisory and representation services – 79110000
- Documentation services – 79131000
- Certification services – 79132000
Location of contract
Value of contract
9 October 2022
24 October 2022
Contract start date
4 November 2022
Contract end date
31 March 2023
Open procedure (below threshold)
Contract is suitable for SMEs?
Contract is suitable for VCSEs?
The final date and time for the submission of bids is Monday 24th October 2022 at 11:00
DO NOT apply directly to the buyer.
All tender information MUST be submitted through the Jaggaer eSourcing Portal.
Brief Description of Requirement
Innovate UK Loans Limited (IUKL) is a special purpose vehicle established in February 2018 to deliver the Innovation Loans programme, a subsidised finance product aimed at single SMEs undertaking later stage research and development activities with a clear route to commercial success.
IUKL is a wholly owned subsidiary or UK Research and Innovation, a non-departmental public body sponsored by the Department for Business, Energy and Industrial Strategy (BEIS). Functionally, IUKL sits within Innovate UK, a council of UKRI, making use of a mix of IUK’s core systems and processes and its own bespoke solutions.
From a regulatory perspective, IUKL has relied to date on a business lending exemption and the outsourcing of its lending administration (making and collecting payments, interest calculations, KYC and AML etc.) to a third party provider, regulated by the FCA.
However, as Innovation Loans moves from pilot to BAU, it is exploring its evolving business model and seeking professional advice and support around its regulatory status and related compliance functions. This procurement seeks a provider to supply that advice and support.
Please ensure you review all attached information to ensure a full understanding of this requirement. All attachments can be found with the Supplier Attachments tab within the Jaggaer eSourcing Portal.
This contract will be awarded based on the evaluation criteria as set out in the ITQ document.
How to Apply
UK Shared Business Services Ltd (UK SBS) will be using the Jaggaer eSourcing Portal for this procurement.
To register on the Jaggaer eSourcing portal please use the link https://beisgroup.ukp.app.jaggaer.com/ and follow the instructions to register as a supplier.
If you are already registered on the Jaggaer eSourcing Portal and wish to participate in this procurement, please use the link: https://beisgroup.ukp.app.jaggaer.com/.
Once you are logged into the system you will be able to locate the Procurement you wish to leave a bid on by clicking the ITTs Open to All Suppliers and searching for the reference number PS22311
How to apply
Follow the instructions given in the description or the more information section.
About the buyer