Grants for Research & Development - NWDA - Clive Grunsell Presentation

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Overview of Grants for Research & Development

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Grants for Research & Development - NWDA - Clive Grunsell Presentation

  1. 1. Grant for Research & Development Clive Grunsell Grants for Business Manager
  2. 2. Why ? <ul><li>Address a MARKET FAILURE that can only be addressed by public sector intervention, because it is very difficult to secure private funding on technically risky, or scientifically uncertain projects. </li></ul><ul><li>The project must have an identified technical risk, or contain scientific uncertainty that will need to be resolved by an innovative step, by undertaking R & D. </li></ul><ul><li>By offering a grant, we will share the technical risk with the applicant. </li></ul>
  3. 3. Objective <ul><li>Grant for Research and Development aims to help individuals starting up businesses and SMEs already based in England carry out research and development work on technologically innovative products and processes. </li></ul><ul><li>Open to SME’s only, as defined by the European Commission, further guidance at http://europa.eu.int/comm/enterprise/enterprise_policy/sme_definition/sme_user_guide.pdf </li></ul>
  4. 4. Objective <ul><li>By offering a grant towards the costs of carrying out the research and development work, the grant will encourage businesses to carry out projects that they would not necessarily undertake without the grant. </li></ul><ul><li>This will help lever in to these projects, finance from reluctant private investment sources to help fund the project. On completion, the grant will “ quality assure “ the project, which could make the applicant more investment ready. </li></ul>
  5. 5. Timings <ul><li>There are no call dates for submitting your application. </li></ul><ul><li>We are open for business 365 days a year to receive your application. </li></ul><ul><li>The scheme is non competitive. </li></ul><ul><li>Decisions are made within 60 days, from a fully completed application being received. </li></ul>
  6. 6. Support Available <ul><li>4 levels of support are available from £20,000 to £500,000 </li></ul><ul><li>Micro </li></ul><ul><li>Research </li></ul><ul><li>Development </li></ul><ul><li>Exceptional Development </li></ul>
  7. 7. Micro Projects <ul><li>Helps to develop a simple low cost prototype of a new product or process which involves technological innovation or novelty. </li></ul><ul><li>Maximum grant available £20,000 </li></ul><ul><li>Grant rate – 45% support </li></ul><ul><li>Eligibility – up to 10 employees </li></ul>
  8. 8. Research Projects <ul><li>Helps to access the technological and commercial feasibility of turning innovative technology into a new product or process. </li></ul><ul><li>Maximum grant available - £100,000 </li></ul><ul><li>Grant rate – 60% support </li></ul><ul><li>Eligibility – up to 50 employees </li></ul>
  9. 9. Development Grant <ul><li>Helps to develop a pre-product prototype of a new product or process involving a significant technological advance. </li></ul><ul><li>Maximum grant available £250,000 </li></ul><ul><li>Grant rate – 35% support </li></ul><ul><li>Eligibility – up to 250 employees </li></ul>
  10. 10. Exceptional Development <ul><li>Helps with the development of a new technology that is strategically important to an industrial or technology sector. </li></ul><ul><li>Maximum grant available £500,000 </li></ul><ul><li>Grant rate – up to 35% support </li></ul><ul><li>Eligibility – 250 employees </li></ul>
  11. 11. Other sources of funding <ul><li>Northwest Small Business Loan </li></ul><ul><ul><li>Funding of £3,000 to £30,000 for businesses unable to access funding through traditional routes </li></ul></ul><ul><li>Northwest Business Angels </li></ul><ul><ul><li>Advice, support and a gateway to business angels and funding between £10,000 and £500,000 </li></ul></ul><ul><li>Northwest Venture Capital Schemes </li></ul><ul><ul><li>Range of venture capital schemes offered support from £50,000 to £1m </li></ul></ul><ul><li>Selective Finance for Investment (SFIE) </li></ul><ul><li>Capital investment in plant, equipment, machinery & buildings, from £10k to £2m </li></ul>

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