Innovation funding in UK – Reopening of the SMART programme
Innovate UK has announced the re-opening of the SMART grant scheme that offers funding to SMEs for R&D projects in science, engineering and technology, from which successful new products, processes and services could emerge.
SMART scheme is always open and there is no specific deadline; however, there are 6 assessment rounds per year. The next assessment round is closing at 16.07.2015. Also, further on this year there are two more deadlines on 24.09.2015 and 26.11.2015.
There are three types of project that are supported under this programme:
- Proof of Market (up to £25,000 grant, with intensities up to 60% of total project costs and 9 months duration) – used to asses commercial viability
- Eligible expenses: market research, market testing and competitor analysis, intellectual propriety position, initial planning to take the project to commercialization.
- Proof of Concept (up to £100,000 grant, with intensities up to 60% of total project costs and 18 months duration) – used to explore the technical feasibility and commercial potential of a new technology, product of process
- Eligible expenses: initial feasibility studies, basic prototyping, specialist testing and/or demonstration to provide basic proof of technical feasibility, intellectual propriety protection, investigation of production and assembly options.
- Prototype Development (up to £250,000 grant, with intensities up to 45% of total project costs and 2 years duration) – used by companies to develop a technologically innovative product, service or industrial process
- Eligible expenses: small demonstrators, intellectual propriety protection, trials and testing (including clinical), market testing, market strategies, identifying routes to market, product design work, pre-clinical studies for medicine.
Any UK SME undertaking research and development may apply; applications are accepted on a rolling basis for assessment by independent experts and you may only submit one application per category per round.
Please feel free to contact us for further details and information about this action, as well as for exploring further funding opportunities for your development plans.