- By Buckinghamshire Business First
- 23 October, 2014
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Innovate UK, which was previously known as the Technology Strategy Board, is running this scheme that offers funding to Small and Medium Sized Enterprises (SMEs) to engage in Research and Development (R&D) projects in the strategically important areas of science, engineering and technology. From these projects, successful new products, processes and services could emerge that could help stimulate UK economic growth. Three types of grant are available, these are:
- Proof of Market grants of up to £25,000 to test the viability of new products, processes and services
- Proof of Concept grants of up to £100,000 to test the technical feasibility
- Commercial viability and grants of up to £250,000 for the development of prototypes.
The deadline for the latest round of applications is 27 November 2014. For detailed information on the grant scheme, visit the Innovate UK website.
Grants for Eco Innovation programme
If businesses have already completed their R&D and are ready to launch their product into the market, or would like funding for a promotional push, then grants of up to £3,000 are available through the Grants for Eco Innovation programme.
In order to apply, you need to:
- Be based in the South East of England
- Be an SME
- Have an innovative product, service or process with an environmental benefit.
Typical activities that have been funded include the creation of new websites, access to exhibitions/tradeshows, marketing consultants and designers and much more. As long as the activity can be linked back to a potential increase in business, funding can be awarded.
Applications are made online at www.grantsforecoinnovation.co.uk and the team are on hand to deal with queries on 01494 568956.
