The Open Grant Funding competition is no more and has been relaunched as Innovate UK Smart Grants! No need to worry, they are essentially the same.
This is an opportunity for a UK-based business to gain funding to deliver their groundbreaking business ideas to the market.
A keyword to keep in mind is commercialisation. If your innovative business idea will have a great impact on the UK economy and can be rapidly commercialised, then this is the grant for you especially as it is not specific to one area of technology. (All areas will be considered)
Deadline: 24th April, 2019, 12:00 pm
Who is eligible?
UK businesses or Research Technology Organisations (RTO) applying individually (if an SME) or in collaboration with an SME.
Projects from any area of technology are eligible to this grant but the amount you are eligible to depends on the project size.
To be considered, your projects need to be carried out in the UK with the results of the project also exploited in the country.
N.B. Depending on the type of research being undertaken during the project, the closeness of the project to the market and the size of your company, the funding you will be eligible for varies. For example, market search projects for SMEs are eligible for 70% of funding to cover their costs. For ideas that are close to the market, small businesses are eligible to 45% of funding to cover experimental development projects whereas medium sized companies are eligible to up to 25%.
There are three main parts to the application which should be written in a clear, concise manner:
The project details: does the project fit within the scope of the competition?
Applicable questions: this is an opportunity to present the project in detail. (Scored section which determines the success of the overall application)
Finances: organisation of the project and funding details regarding the project.
Are you ready to apply?
Check out our blog post for the ‘ins and outs’ of a successful Innovate UK grant application.
Innovate UK has also provided guidelines on what they look for in a winning grant application.
Apply with us
Get in touch and we can get you started on a successful grant application today!