The new Grant for R&D programme launched by the Technology Strategy Board in April has attracted hundreds of applications from small and medium-sized companies in its first month.
Grant for R&D offers funding to help SMEs engage in technology-based R&D projects from which successful new products, processes and services could emerge, stimulating future economic growth.
The new scheme replaces the previous programme which was available from many of the Regional Development Agencies, and shares similar objectives - although with some differences in arrangement and criteria.
Three types of grant are available - for proof of market projects, proof of concept and development of prototype. Depending on the type of grant, funding levels range from £25,000 to £250,000.
Grant for R&D is another important element in the range of resources available to help innovative SMEs in the UK lay the foundations of future growth - for themselves and for the economy.
Applications to the Grant for R&D programme can be made at any time.
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