Technology Strategy Board is the main innovation agency in the UK. They are responsible for distributing UK based funding to small-to-medium size (SMEs) enterprises.
TSB just announced a R&D grant scheme for small and medium-sized companies in science, engineering and technology sectors. Unlike previous TSB schemes which have required organisations to collaborate in order to secure funding, the R&D grants are now available to individual companies (similar to previous RDA schemes), which must be based in the UK and fit with the EU definition of an SME (currently SME definition is under €50M turnover + less than 250 employees).
Three types of grant are available can be listed as below:
- Proof of market
- Proof of concept
- Development of prototype
Proof-of-market grant
This grant enables companies to assess the commercial viability of a project, through:
- market research
- market testing and competitor analysis
- intellectual property position
- initial planning to take the project to commercialisation, including assessing costs, timescales and funding requirements.
Projects will last up to 9 months, have a maximum grant of £25k, and up to 60% of total project costs may be funded.
Proof-of-concept grant
SMEs may use this grant to explore the technical feasibility and commercial potential of a new technology, product or process, including:
- initial feasibility studies
- basic prototyping
- specialist testing and/or demonstration to provide basic proof of technical feasibility
- intellectual property protection
- investigation of production and assembly options.
It also includes pre-clinical research studies for health-care technologies and medicines, including target identification and validation.
Projects will last up to 18 months, have a maximum grant of £100k, and up to 60% of total project costs may be funded.
Development of prototype grant
This funding is used by companies to develop a technologically innovative product, service or industrial process, and can include projects such as:
- small demonstrators
- intellectual property protection
- trials and testing, including clinical
- market testing.
Projects will last up to 2 years and have a maximum grant of £250k; up to 35% of total project costs for medium enterprises, or up to 45% for small and micro enterprises, may be funded.
TSB also have larger budgets (typically £0.5M – £1.5M) for consortium based funding schemes. They publish competitions (or calls) every few months and these are thematic-funding schemes (the topic of your project needs to fit the funding theme).
If you have any questions or would like to chat about TSB funding schemes, please do not hesitate to contact me from funding@cagriyilmaz.com email address.
