A new Technology Strategy Board 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.
Open from 4 April 2011, the Grant for Research and Development (Grant for R&D) scheme will support R&D projects which offer potentially significant rewards and could stimulate UK economic growth. In contrast to the Collaborative R&D programme, Grant for R&D funding is available to single companies.
Three types of grant are available:
* Proof of market
* Proof of concept
* Development of prototype
Any UK SME working in any sector may apply; applications are accepted on a rolling basis for assessment by independent experts.
Grant for R&D replaces the scheme previously offered by regional development agencies. The new scheme will work alongside existing programmes in Scotland, Wales and Northern Ireland.
For more information: Technology Strategy Board Website