Research and development grants are available to small to medium-sized enterprises (SMEs) who have cutting-edge or disruptive ideas aligned with commercial ambition. Working with an academic partner on your application can maximise your chances of success, but what do you need to know before securing your partnership?
Applying for grant funding can facilitate collaborations with unique industry, research and academic partners to help deliver world-leading innovation projects. These collaborations open up access to new technologies, techniques and expertise – further enhancing outcomes for your business.
With the growing complexity of the problems needs solutions, universities can provide a new or different perspective to your product, process or solution and potentially offer more time to consider the problem and published literature.
The Industrial Strategy Challenge Fund aims to bring together the UK’s world-leading research with business to meet the major industrial and societal challenges of our time. The Industrial Strategy Challenge Fund provides funding and support to UK businesses and researchers. The fund is part of the UK government’s £4.7 billion increase in research and development over 4 years to 2021. It is designed to ensure that research and innovation take centre stage in the government’s Industrial Strategy.
Whatever your views on Brexit and whether you believe the huge increase in funding for Research & Development is a knee-jerk response to the UK becoming an isolated island, the truth is UK innovators are being directly incentivised to bring new products, processes, and services to market.
R&D Grant funders have shifted in the balance between technical innovation and commercial potential in recent years. We find ourselves now in a position of equality where companies must demonstrate both novelty and scalability to be successful.
Innovate UK, in particular, are now offering Innovation Loans that support late-stage R&D activity with a preference for near-commercial products, processes and services.
Is your company incorporated?
Your company must be incorporated in order to be eligible to apply for and receive grant funding from R&D funding bodies. In the UK this is mainly Limited Company’s with a Company Number registered on Companies House. You can create a new company or apply from an established company. A trading history is not a pre-requisite for most R&D grant funding, but demonstrable sustainability is required to draw down funding. This could be from revenues, investment or loans.
Granted recently hosted an event which featured a talk from the Centre Director of Bristol SETsquared who informed us of the latest Scale-Up Programme. The Scale-Up Programme provides a tailored support programme, including access to funded R&D projects with the 5 universities investment, sales channels and talent acquisition.
SETsquared Partnership is a collaboration between the universities of Bath, Bristol, Exeter, Southampton and Surrey, assisting growing businesses in navigating the challenges of growth.
With the last few months being one of the busiest times for Granted, we are broadening our capabilities by adding two new members of staff to our ever-growing team of highly skilled Grant Funding Consultants.
Providing us with a unique blend of skills and experience we would like to introduce Loise Teigao and Anna Davey-Mitchell.
“The world will need 60 per cent more food by 2050 to allow us to feed 9 billion people, and demand for water is expected to rise by 20 per cent in the agriculture sector alone. For this to be possible, the way we produce our food needs to be significantly more efficient and sustainable. Using precision technologies we can make that a reality: transform food production while reducing emissions, pollution, waste and soil erosion. Putting the UK at the forefront of this global revolution in farming will also deliver benefits to farmers, the environment and consumers, as well as creating growth, jobs and exports.” (Innovate UK)
Technology Readiness Level was originally created by NASA to assess whether their emerging technology was suitable for space exploration. Nowadays this approach is used over a variety of different industries to understand the maturity of a technology and assess whether it’s ready for use in the “real world”.
“The way we create our buildings has not changed substantially in 40 years and needs a drastic overhaul if it is to deliver the buildings that the UK needs. Construction is currently expensive, and too many buildings waste energy. We need to transform construction so that we can create affordable places to live and work that are, safer, healthier and use less energy. By taking a lead in the UK, we can also increase our ability to export: global demand for efficient buildings is rising rapidly, due to the pressures of urbanisation, affordability, and the need to cut emissions.” (Innovate UK)
As one of Granted’s successful clients, New Wave Marine secured funding from Plymouth and the South West Peninsula City Deal which provided them with £60,550 of grant funding to expand their local business to offer services in the export market.
“Services account for almost 80 percent of the UK economy. As technologies like artificial intelligence and data analytics become ubiquitous, we need to ensure the UK service sectors are primed. Pioneer funding will help service industries to identify how the application of these technologies can transform their operations. This will help to put UK service industries at the forefront of developing and using innovation.” (Innovate UK)
The Granted Team have been working with a range of exceptional clients since the beginning of 2018 and have managed to successfully secure £1M of grant funding this June alone. Covering multiple sectors, we’ve helped companies at the forefront of innovation through the process of achieving a successful grant application, including funding for Health & Life Sciences (Innovate UK), Emerging & Enabling Technologies (Innovate UK) and RDPE (Rural Development Programme for England).
Blockchain has entered the mainstream and is no longer a ‘buzzword’. Blockchain and other types of Distributed Ledger Technology (DLT) has developed from essentially being associated with Bitcoin to a much broader range of application by offering a trust layer to the world-wide-web that has been impossible to date.