Smart is the new name for Innovate UK’s ‘Open grant funding’ programme. The latest grants for October offer the opportunity to apply for a share of up to £25 million to deliver ambitious or disruptive R&D innovations that can make a significant impact on the UK economy.
Applications can come from any area of technology and be applied to any part of the economy, such as but not exclusively:
- the arts, design and media
- creative industries
- science or engineering
Proposals must demonstrate:
- a clear game-changing, innovative and/or disruptive and ambitious idea leading to new products, processes or services
- an idea that is significantly ahead of others in the field, set for rapid commercialisation
- a strong and deliverable business plan that addresses (and documents) market potential and needs
- a clear, evidence based plan to deliver significant economic impact, return on investment (ROI) and growth through commercialisation, as soon as possible after project completion
- a team, business arrangement or working structure with the necessary skills and experience to run and complete the project successfully and on time
- sound, practical financial plans and timelines
- awareness of all the main risks the project will face (including contractor or equipment failure, recruitment delays, etc) with realistic management, mitigation and impact minimisation plans for each risk
- clear, considerable potential to significantly impact the UK economy and/or productivity in a positive way
- good value for money, which will always be a consideration in Innovate UK funding decisions
Competition opens: Monday 17 October 2019
Competition closes: Wednesday 8 January 2020, 12 noon
Click here for full details.
R&D Funding Group can advise if your business is eligible to apply for these R&D Grants and help you win funding. To find out more, please contact Stephen Dyson on 0161 464 6351 or email email@example.com.