There are many different grant funding types to support industry-led R&D. Funds range from local level support grants to £multi-million UK or European-wide support packages.
Grant Funding is a great tool that companies developing innovative technology can use to support product development. Developing new products, processes and services is inherently risky, therefore, enables companies to fund development with no loss of equity and can offer up to 100% funding for a project.
For later-stage R&D, Innovate UK has another funding vehicle – the Innovation Loan. This is targeted at single applicant SMEs with proven prototypes that need financial support to make the final step into the market. Unlike grant funding, these innovation loans must be repaid.
Once notified of a successful outcome to your grant funding application, you will enter a grant preparation stage. The funding body will complete financial checks to make sure your company can support project and competition requirements.
When it comes to Grant Funding Project costs, a project budget is built up around the work required. Costs such as labour, materials and overheads can be included, whereas sales and marketing spend cannot.
Whilst many grant funding competitions are run using a single-stage process there are some which require an additional stage of assessment. This is normally because the funding body wants to make sure the most promising projects are funded supported by a fully prepared consortium.
Depending on what your idea is about, in theory you can apply for Grant Funding. You need to meet the criteria that is set out in the specific grant fund itself. Each competition will have stipulations in terms of the size of the project, and what they're trying to achieve.
After a competition deadline submitted, grant funding application assessment begins as applications are sifted against the eligibility criteria of the competition. For themed competitions, this will include an initial assessment as to whether the application meets the scope of the competition.
If you're wondering "How much grant money can I get?" Every different grant scheme has its own separate criteria. Typically grants range from £25k up to several £millions depending on which grant scheme you apply into.
Writing a strong grant funding application takes time and effort. We aim to take away the hassle from people writing the applications and spend time with the key technical people in your project, to be able to write your application on your behalf.
Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.
Get In Touch
Call 
Back
