East Midlands-based business consultancy TBAT Innovation helped clients across the UK to secure £13.3 million grant funding in 2013 for their innovative technologies. This represents an overall application success rate for the consultancy team and its clients of 90%. Clients are located between the Isle of Wight and Aberdeen, and span a variety industry sectors including health, transport, energy and engineering.
Derby-based company Huub design wetsuits, clothing and accessories for endurance sports, particularly triathlon. Following the successful London 2012 Olympic Games, the demand for Huub products has increased dramatically. To cope with this growth the company committed to employing new staff and sought the assistance of TBAT Innovation. TBAT assisted Huub in applying for a Derby Growth Fund grant and loan to assist their expansion. This allowed production levels to be increased while ensuring the company remained financially secure.
The grant funding raised by TBAT is a combination of UK government Technology Strategy Board (TSB) Smart and collaborative R&D grants plus regional grant funding schemes through the Regional Growth Fund (RGF). Smart grants are available throughout the UK and are only applicable to small and medium-sized companies engaging in an innovative research and development project. Funding of up to £250,000 is available. Collaborative R&D projects are available in varying amounts through the Technology Strategy Board to small and large companies focused on a specific technology area.
Matt Symonds, director at TBAT Innovation says: “Selection for grant funding is rigorous so we are required to present the business case for each client in some detail. It is encouraging to see some excellent projects funded in this way, especially when they lead to new products and jobs.”
On 25th April 2022, Innovate UK launched the first SMART Grants funding competition with it’s new format and focus. The new competition is open for applications now, with a deadline of 27th July 2022.
Book your free 1-to-1 session on 27th April 2022, to discuss how to access Grant Funding for your innovation, with one of our advisors, during our next Funding Drop-in Clinic.
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