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Grants update – Innovate UK are on the look-out for businesses with ‘game-changing and ambitious’ project ideas

Two familiar grants are making a return… well one has returned and the other is rumoured to be returning soon.

Innovate UK Smart Grants: October 2019

Open (again) from earlier this month, this grant programme is looking for applicants with “disruptive R&D innovations that can make a significant impact on the UK economy.”

Overview as follows:

 

To be eligible, you must

 

· be a UK registered business of any size or a research and technology organisation (RTO)

· carry out your research and development (R&D) project activity in the UK

· intend to commercially exploit the project results from the UK

· be, or collaborate with, at least one micro, small or medium-sized enterprise (SME)

Project must demonstrate · a clear game-changing, innovative and/or disruptive and ambitious idea leading to new products, processes or services

·  an idea that is significantly ahead of others in the field, set for rapid commercialisation

· a strong and deliverable business plan that addresses (and documents) market potential and needs

· a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion

· a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time

· sound, practical financial plans and timelines

· awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc.) with realistic management, mitigation and impact minimisation plans for each risk

· clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way

· good value for money, which will always be a consideration in Innovate UK funding decisions

Project size Duration between 6 and 18 months and total eligible project costs between £25,000 and £500,000: can be single or collaborative. Duration between 19 and 36 months and total eligible project costs between £25,000 and £2 million
Key dates Opened: 17 October 2019

Closes:  8 January 2020

More details of the programme and how to apply can be found here.

RDPE Growth Programme

Someone ‘in the know’ used the Q&A session at our breakfast briefing event to say that they believed another round of the RDPE Growth Programme will be opening soon (in the next two weeks he believed).  So very much a “watch this space” item or as my body double Arnie would say “I’ll be back” with more news in due course.

R&D Tax Credits

I feel obliged to say something about R&D Tax Credits every time I post up about grants, specifically those like, Smart Grants, which are linked to R&D activities. I strongly advise that anyone whose company is embarking on an R&D project consult with one of team here who specialise in Innovation & Technology Tax about the interaction of R&D tax credits with grants for R&D.

By Andrew James

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