23.03.23 Market Intel

Tom’s take on the current grant funding landscape

It’s been all go at Granted HQ with the news that we have joined up with Catax and the wider Ryan group to be able to bring a comprehensive innovation funding offer to the market.

It’s an exciting time although rest assured the high-quality Granted team will not be going anywhere. We have achieved a lot for our clients but were always curtailed by our ability to help as many clients as we knew needed help or reach all the partners that can bring value at the right time.

The acquisition supercharges our approach and we will have some exciting developments over the coming months to help more companies secure more funding for even more impactful projects.

Innovation funding remains a hot topic with a record number and amount of funds being released.

We’re seeing increases in committed support for sectors as diverse as Quantum Computing, Hydrogen, Med-tech, Agri-tech and Food-tech, whilst programs like IUK Smart continue to support innovation.

So, how do you keep on top of all the changes in the funding landscape?

Reassuringly we’re seeing far more companies approach innovation funding strategically. The uptake of our Retainer service, aligning your organisation’s aims with funding pots over the medium term, highlights the need to think about growth and innovation in a joined-up way. There has been an increase in the types and structure of funding options available meaning more opportunities if you lock in innovation funding to your core strategy.

In addition, upcoming changes to the R&D Tax credit scheme will leave companies that haven’t prepared out in the cold. But in times of flux comes opportunity!

The recent agreement on the Northern Ireland trading regime, the “Windsor framework” should also see the removal of one of the key barriers to an agreement on UK access to the Horizon program, allowing the UK to rejoin the flagship £84bn research scheme. This is positive news and allays some fears in research circles around future access. Whilst we can’t get the 2 years of purgatory back it should now allow a clear direction for both academic institutes and business leaders to collaborate more fully with EU partners.

So, there are reasons to be cautiously optimistic, which in a time of heightened uncertainty is welcomed!

If you can align your organisation’s growth and innovation plans with funding at a board level, it will lead to substantial opportunities over the year ahead.

Written by Tom Kennard, Managing Director

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