How the Innovation Pathways can support you and what happens after submitting your application.
If you want to apply for Innovation Pathways support, you’ll need to complete our online application form. This form is designed to help us understand your innovation so we can decide whether we can support you.
If you want to test your business model in the live market with real consumers, you should consider applying to the Regulatory Sandbox[1].
Preparing your application
When applying you’ll be asked a series of questions about your proposal, how it meets our eligibility criteria[2] and your testing plan details. You’ll need to meet all the criteria to be accepted for support.
Read the draft application form[3] to help prepare. This includes questions you’ll be asked and guidance to help your answers.
Cryptoasset-related applications currently closed
We are not accepting any new cryptoasset-related applications for innovation services support currently.
This is because we’re supporting firms ahead of the new cryptoassets regime, which is expected to come into force on 25 October 2027.
Find out more about the cryptoassets regime and whether it applies to your business model[4].
Key points for your application
To maximise your chances of making a successful application, make sure you’ve read our guidance before submitting your form.
- The more information you can provide, the easier the assessment becomes for us. We understand that your proposal may be under development and that you may not have a finished model at the time of applying, but please respond to each question in as much detail as you can.
- Please explain how you meet each criteria individually. You must meet all the criteria to qualify for our support.
- Consider providing supporting documentation if you have it. For example, if you’ve already completed a pitch deck, a white paper, or a business plan, then please feel free to include it.
- Explain how your proposal is different to other businesses in the same sector. Your business may be innovative, but it’s unlikely to be completely unique. Help us understand why it’s innovative by comparing yourself to other services that your customers might use.
- Explain why and how it’s better than existing services. Your business will need to benefit consumers and you'll need to be able to explain how. Is it cheaper, faster, or more secure?
- Describe how it works as a business. We need to understand how your proposal will work in terms of how it makes money, who your customers will be, and how it will be viable.
- Be clear on what you want from us. We can’t help with vague questions, like ‘please help us meet the rules’. You should carefully explain what you need our help with.
- You don’t need the services of a lawyer or compliance consultant before applying for our support. However, if you’ve spoken to a lawyer, it might be helpful to include any legal advice you’ve received (if you can share it). You should consider taking on a compliance consultant before applying for our authorisation.
A fully completed application form should give us enough information to make a decision. Attaching a pitch deck to your form and answering ‘see attachment’ to each question usually doesn’t. If there is missing information from your application, we’ll get in touch to ask for the details we need.
There is no fee for applying or being accepted into the Innovation Pathways.
Compliance support
Our support is not comparable to a compliance consultant's services.
We can help with questions on how FCA rules apply, and explain our processes and expectations.
You will need to decide how you'll comply with those rules, if there are other rules you may need to consider, and to demonstrate to us that you meet our standards.
We don't provide exhaustive compliance reviews. If you’re not confident that you can submit an application and draft all the relevant documents without support, then you may wish to consider speaking to a compliance consultant.
Application form and process
Fill in the application form and find out what happens after submitting your application.
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Apply online
Please fill in our online application form:
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Initial assessment and phase 1 outcome
After you submit a complete application, the Innovation Pathways team will review whether it can progress to full assessment. We aim to provide this outcome within 2 to 3 weeks. We’ll tell you if it doesn’t meet the eligibility criteria for Innovation Pathways support at this stage, and will close the application. We’re unable to provide detailed feedback on applications that don’t progress. We don’t operate an appeal process.
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Full assessment, panel review and phase 2 decision
Your application will be considered by an FCA panel of senior decision makers and likely contact you for additional information. We aim to complete this stage within 8 to 12 weeks, subject to the complexity of the application and the information provided. We’ll then tell you whether your application has been accepted or rejected.
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Preparation for the Innovation Pathways
If accepted, we’ll work with your firm to prepare for required support and agree the appropriate regulatory tool, such as informal steers, where required. The type and level of support you need will be determined by your case manager at the initial meeting.
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Receiving support
We will usually provide support for around 6 months. If you still need support after this period, you will need to reapply. We may extend support in 3-month increments at our discretion. Any further support requests will be considered on a case-by-case basis and must continue to meet our eligibility criteria[6].
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Exit the Innovation Pathways
At the end of the support period, firms will have received the agreed support and their case will be closed.
Your privacy
We’ll keep your proposal confidential. We may share information within the FCA to make sure that the relevant experts can answer your questions, but we’ll never share information externally without your consent, unless compelled to by law.
