How to ensure your project qualifies for commercial R&D grantsPosted 16th Oct 2018
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.
Can you define a project that will result in the advancement of a novel product, process or service?
R&D grant funders are seeking to support early stage, high risk, high return and innovative projects. You will need to present a project plan with a future start date that runs over 6-36 months and results in significant progress being made in the research and development of your proposed product, process or service.
Can you demonstrate that your project costs are eligible for R&D grant funding?
Cost categories include Staff Wages & Overheads, Materials, Capital Equipment, Subcontractors, Travel & Subsistence and IP advice. Crucially, the activities undertaken by the staff, the materials used in the project and the subcontracted tasks, must qualify as R&D activity. R&D grant funds will not support sales, operations, cash-flow, stock and other post-R&D activities.
Can you demonstrate that your project will result in a new product, process or service that is a step-change in comparison to the current state-of-the-art solution?
R&D grant funding is competitive and one of the primary motivations for a funder is to support game-changing, disruptive, innovative projects. If you can show that your proposed solution out-performs the current best-in-market and makes quantifiable cost and/or efficiency savings, then you are generally ‘in scope’ to receive R&D grant funding.
Can you show a convincing and scalable route-to-market plan?
R&D grants are no longer the domain of scientists in white coats operating out of universities and labs. Today, R&D funders are under pressure to demonstrate a return on their investment of public funds, both in terms of your own companies’ growth and the wider economic growth of the region/nation/union. You need to convince the funder that you have a viable, scalable product, process or service that your target users will pay for.
Is your project ‘in scope’?
Every R&D grant fund will publish a Fund Scope document that gives details about the fund, how much money is available, eligibility criteria and preferred projects. If you are unsure about whether your project is ‘in scope’ talk to one of the Granted Consultancy team who have extensive experience of matching R&D projects to R&D grant funds.
Why use grant funding experts?
There are many different factors that will improve your chance of grant funding success. Here at Granted, we know where to find suitable funding, how to access it successfully and how to use it to best effect. And our sector expertise and ability to upskill at pace in new technology sectors has enabled us to work with a wide variety of companies, from start-ups to blue-chip multinationals, in all economic sectors. So if you have an ambitious project or innovation, why not Contact us? A brief chat with one of our grant writing experts will help you discover if grant funding could get your project off the ground.Back to all posts