TEDI Innovation Fund: Budget Guidance

Written By TEDI Network Plus

We've put together this guidance to help applicants think through the financial side of their project before submission. Whether you're new to UKRI funding or you've written dozens of applications, there are a few things about the TEDI Innovation Fund that are worth understanding early on.

The most important piece of advice we can offer is this: don't leave the budget until the end. Costs take time to gather, your finance team will need time to review, and the budget itself can help you sense-check whether your plans are realistic within the time and resources available.

With that in mind, here's what you need to know.

Working with Your Organisation

Applications must be led by an eligible academic institution. As TEDI is funded through UKRI, the lead organisation must be a UK higher education institution or other eligible research organisation.

Talk to your research support or finance team early. They can help you develop your budget, calculate costs correctly, and make sure your application meets funder requirements.

Projects can request up to £100,000 at 80% Full Economic Cost (FEC). TEDI will fund up to 80% of the total project cost, with the remaining 20% provided by the lead institution. You can find more information about FEC on UKRI website.

Don't forget overheads. Universities and research organisations include costs that support research delivery, such as buildings, IT, finance, HR, and governance. These costs can be substantial (often around 40–50% of the total project cost), so it is important to understand them before finalising your budget.

Involving People with Lived Experience

Plan and budget for meaningful involvement. We strongly encourage projects to involve people living with dementia, carers, and other relevant communities throughout the project.

There is flexibility in how people are recognised for their time and expertise. While some groups may prefer payment or vouchers, others may prefer community events, refreshments, transport support, contributions to local organisations, or other approaches that are meaningful within their community. We advise that you speak to your lived experience and community partners early and agree together what works best for you.

As a guide, many organisations follow NIHR standards for public involvement, which commonly reimburse contributors for their time and cover any expenses associated with participation. Briefly, this looks like this:

  • £13.80 – Half an hour of contributor's time

  • £27.50 – One hour of contributor time

  • £55 – Two hours of contributor time

  • £82.50 – Half a day of contributor time

  • £165 – Full day meeting of contributor time

  • £330 – Full day meeting of contributor time which requires significant preparation

Click here for more detail from NIHR on payment guidance.

You may also wish to include some of these additional costs, tailored to your specific project needs:

  • All travel costs

  • Overnight accommodation

  • Subsistence (such as food and drink)

  • Childcare or replacement carer costs

  • Costs of a personal assistant or support worker

  • Administration costs (for example telephone, postage, stationery and other equipment)

  • Learning and personal development opportunities

What Could Your Budget Include?

Depending on your project, you may wish to budget for:

  • Staff time and specialist expertise

  • Workshops, co-design sessions, and community engagement activities

  • Software, app, or digital platform development

  • Hardware, devices, sensors, or prototyping materials

  • User testing and product refinement

  • Travel and meeting costs

  • Accessibility and inclusion support (e.g. translators, translated transcription)

  • Evaluation and data analysis

  • Sharing and promoting project outputs

Practical Tips

Start your budget early. It often takes longer than expected to gather quotes and work through costs.

Think about the whole project journey. Remember to budget for development, testing, involvement activities, evaluation, and sharing what you learn.

Get quotes where possible. If you need software development, hardware, consultancy, or specialist services, obtaining estimates early can help avoid surprises later.

Include the costs of involving people. Travel, refreshments, venue hire, accessibility support, and reimbursement can add up quickly.

Be realistic. You do not need to request the full £100,000. A smaller, well-justified budget is often stronger than a larger budget that is difficult to explain.

If in doubt, ask. We are happy to answer questions and help applicants think through their budgets before submission.

TEDI Network Plus