Research
Financial assistance towards innovation projects is mainly offered within England by newly launched GRAND scheme and available to small and medium sized companies depending on the nature of the project which is envisaged.
Large companies situated in England may also consider submitting bids
for funding to the new Regional
Growth Fund (RGF).
Innovation assistance for individual or companies in Wales or Scotland
are detailed in the 'other funding' sections of this site.
GRAND (previously known as SMART)
awards (now
renamed GRAND in England) range
from £5,000
for a Technology Study, and can go up to £200,000 for Small and
Medium-sized firms (fewer than 250 employees) who contemplate undertaking
development projects. A small number of exceptional high-cost projects
may attract grants of up to £500,000.
EUROPEAN Innovation Grants
Additionally, funding for innovation may be provided within the many
European schemes to encourage collaborative research. (See Europe for
fuller details).
The basis of most EU grant funding for R&D is through the encouragement
of collaborative partnerships with other EU firms or academic organisations,
the EU funding information sites are also excellent places to find such
partners.
In order to assist SMEs get help securing EU funds, the Small Business
Service (SBS) has published a new guide on 1st July 2002 to help UK SMEs
tap into European Union funding programmes.
The handbook, called 'Access to EU funding', describes the types of loans
and grants available in Europe, and indicates which offers small firms
should apply for. The guide is tailored to small companies in a range
of industries, so that firms can identify the deals most relevant to
them.
The categories include, rural businesses, research and development, and
information technology. The guide can be acquired by calling 0870 150
2500.
The discretionary nature of the grant regimes and strict
criteria by which eligibility is determined suggest that you should speak
first with GRA or other professionals rather than to the grant authority
or other government body to avoid giving information prematurely which
could then prejudice your potential case when final application submissions
are reviewed during the appraisal process.
GRA is unable however to comment on the 'innovative'
strength of any potential application - since this is clearly a matter
of individual opinion by the experts in the pertinent technology sector
who might be consulted by the Small Business Service panel who will decide
the fate of any grant scheme application.