£15m in R&D Grant funding up for grabs

I am always looking for ways to help businesses and last week Barrie Dowsett sent me these details..

Innovate UK has launched a £15m grant funding pot for innovative projects in any technology, engineering or industrial area.

As grant funding is non-repayable, and Innovate do not take any equity, IP or commercial rights over your project, I thought you would be very interested in knowing more about this excellent funding opportunity. Priority will be given to proposals that are likely to lead to sustainable gains in productivity and/or access to new overseas markets through export led business growth.

Key information:

-Funding is available for testing the feasibility of your idea (including proof of market), research and develop it and demonstrate it in a prototype

– Project value: £25k to £1m depending on type of R&D undertaken

– Project duration: 6 to 36 months

– Micro/small business receive up to 70% of project costs, Medium up to 60% and large businesses receive up to 50% dependant on stage of research/development

– Application deadline is 12pm on the 7h September 2016

– Funding made available from around December 2016 onwards

National success rates for Innovate UK grants are typically less than 10%, however Myriad have success rates approaching 60%.