A new United Kingdom Technology Strategy Board scheme is offering funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.
Opening 4 April 2011, the Grants for Research and Development will support R&D projects deemed to offer potentially significant rewards and potential to stimulate UK economic growth. In contrast to the Collaborative R&D programme, Grant for R&D funding is available to single companies.
Three types of grant are available:
- Proof of market
- Proof of concept
- Development of prototype
Any UK SME working in any sector may apply; applications are accepted on a rolling basis for assessment by independent experts. Projects will last up to two years and have a maximum grant of £250k; up to 35% of total project costs for medium enterprises, or up to 45% for small and micro enterprises, may be funded.
For more information, visit the Technology Strategy Board website.