A new Technology Strategy Board (TSB) scheme is offering funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge. Applications are encouraged from all those in the UK’s motorsport and high performance engineering sector.
The “Grant for Research and Development ” scheme will support those R&D projects which offer potentially significant rewards and can stimulate UK economic growth. – this grant funding is available to single companies.
Three types of grant are separately available – known as Proof of Market (up to £25k) , Proof of Concept (up to £100k) and Development of Prototype (up to £250k) . Any UK SME working in any sector may apply; applications are accepted on a rolling basis for assessment by independent experts.
R&D Grant - Proof of market
This grant enables companies to assess commercial viability, 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.
Key features:
- Duration - up to 9 months
- Maximum grant - £25k
- Funding proportion - up to 60% of total project costs
R&D Grant - Proof of concept
A grant to explore the technical feasibilty and commercial potential of a new technology, product or process:
- 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 healthcare technologies and medicines, including target identification and validation.
Key features:
- Duration - up to 18 months
- Maximum grant - up to £100k
- Funding proportion - up to 60% of total project costs
R&D Grant - Prototype development
This funding is used by companis to develop a technologically innovative product, service or industrial process:
- small demonstrators
- intellectual property protection
- trials and testing, including clinical
- market testing
- marketing strategies
- identifying route to market
- product desing work
- phase 0 pre-clinical studies for medicines
Key Features:
- Duration - up to 2 years
- Maximum grant - £250k
- Funding proportion - up to 35% of total project costs for medium enterprises; up to 45% for small and micro enterprises.
Who can apply?
Pre start-ups, start-ups, and small and medium-sized businesses from all sectors across the UK
Unsure if your business is an SME?
Please see the European definition here
For more information, please click here
