UK Government Offers £20 Million in Cash Grants for Innovation

R&D Cash Grant Funding in the United Kingdom

On September 24, 2018, Innovate UK will open Round 3 of its Open Grant Funding Competition. With a budget of £20 million, funding for project costs up to £2 million per application is available for cutting-edge or disruptive ideas with a view to commercialization.

The deadline for Round 3 submissions is November 14, 2018.

All proposals must be business-focused, rather than pure research. Applications can come from any area of technology, science or engineering, including arts, design, media or creative industries, and be applied to any part of the economy.

Eligibility:

To apply for R&D funding, the applicant must:

  • Be a UK-based business of any size or a research and technology organization (RTO)

  • Carry out your project in the UK

  • Intend to exploit the results from the UK

  • Be a small or medium-sized enterprise (“SME”) to work alone

  • Include an SME to collaborate with others (businesses, research base and/or third sector)

Proposals can fit into one or more of the Industrial Strategy Challenge Fund areas. Applications that fall outside of these areas will also be considered.

Preference will be given to applications that demonstrate realistic, significant potential for global markets.

Proposals from innovation-based businesses with significant ambition and potential for growth or scale-up will be given priority.

Where possible, projects should take customer and user needs into account to deliver more desirable and useful solutions.

Innovate UK is looking to fund a portfolio of projects, across a variety of technologies, markets and technological maturities. These may include feasibility studies, industrial research projects or experimental development projects.

Funding Rates:

Project duration between 6 and 18 months: total costs can be up to £500,000 and may be either single company or collaborative applications.

Project duration between 19 and 36 months: total costs can be up to £2,000,000 and must be collaborative.

For feasibility studies and industrial research, the following grant amounts apply

  • Up to 70% if you are a small business

  • Up to 60% if you are a medium-sized business

  • Up to 50% if you are a large business

For experimental development projects nearer to market, the following grant amounts apply:

  • Up to 45% if you are a small business

  •  Up to 35% if you are a medium-sized business

  •  Up to 25% if you are a large business

Please contact Duff & Phelps’ site selection and incentives specialists if you would like assistance in reviewing your research and development projects against the UK’s funding criteria. We can also assess applicability to other incentives programs funded by the UK or the EU.

 

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