Magnet Hub Grant Scheme
Department for Business and Trade
What it funds
The Magnet Hub competition is part of the £50 million Critical Minerals Programme announced in June 2026. The programme supports the UK’s ambitions to strengthen critical minerals supply chains and economic security, build domestic production and resilience, and support economic growth through the government’s Critical Minerals Strategy. Building on the success of Innovate UK’s programme developing resilient UK-based supply chains for rare earth elements, the Magnet Hub competition will provide
Who can apply
Applications may be submitted by a single organisation or by a consortium of organisations, with one lead applicant. Only one organisation or consortium will be selected to establish and operate the Magnet Hub. The lead applicant must be a UK registered business, university/academic institution, or research and technology organisation (RTOs). Charities, not-for-profit and public sector organisations may be included in the project team but not lead a project.
How to apply
Expression of Interest Applicants must first submit an Expression of Interest (EOI). EOIs will be assessed against the aims of the competition and used to identify applicants who will be invited to submit a full application. Applicants who have not submitted an EOI will not be eligible to submit a full application. You can submit your EOI on the Grants Hub.Full applicationApplicants invited to progress will be asked to provide more detailed information including, on their proposal, delivery model, funding requirements and long-term sustainability plans. Successful applicants will then be subject to due diligence checks before any approval and subsequent grant funding agreement is issued.
Last checked against the official source: 3 Jul 2026. Scheme parameters are set by the funder and can change — verify before applying, or let us do it for you.
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