Your mission: win a funding competition!
You can compete if you have one of "the best cutting-edge or disruptive ideas or concepts with a view to commercialisation." It will close on Wednesday, July 11th at noon. This post is a recap of what you need to know before you start your application.
There are two possibilities
PROJECT DURATION TOTAL COSTS
6 to 18 months - £25,000 to £500,000
19 to 36 months (must be collaborative projects) £25,000 to £2,000,000
NB: the percentage of the costs covered by the grant will vary depending on the type of research being led and on the size of the applicant(s). For example, feasibility studies will be covered up to 70% for small businesses but only up to 60% for medium businesses.
The competition is open to UK-based companies who will carry out the project and exploit the results in the country. Several entities, gathered in a consortium, can apply, but all project must include at least one SME.
To apply for the grant, your project must:
be a game changer, potentially leading to novel products, services or processes
have a clear market potential
be carried out by a skilled and experienced team
demonstrate an awareness of risks and a plan to mitigate them
include financial plans and timeline
How to apply to the funding competition
This section, though not scored, helps the assessors decide if the project fits in the scope of the competition.
Ten questions help you present your project in details. Assessors will score your application, the success of which depends on this score .
The last section covers the project costs and the organisational and funding details.
If this is your first application, you may want to read our "where the heck do I start" posts.