Smart, Innovate UK’s new open grant funding program, will invest up to £25 million in the best innovative and disruptive ideas that are game-changing and commercially viable.
Importantly, all proposals are business-focused, and applications can come from any area of technology and apply to any part of the economy. It should be noted that they do not have to be exclusive to the arts, design, media, creative industries, science or engineering. This grant will be open until May 26th. At this stage, Smart Grants do a call every quater, if you miss out the announcement for the the following call will be made close to the 26th of May.
Who are eligible applicants?
Companies of any size based in the UK, as well as a research and technology organization may be eligible for Smart. Likewise, companies carrying out their R&D activity in the UK, or those intending to commercially exploit the results of the project from or in the UK.
It is essential to include at least one SME if it is a large company or an RTO considering participating with other companies, public sector organizations or beneficiary organizations.
For their part, academic institutions cannot lead or work alone.
Research and technology centers are also eligible.
How large do the projects have to be?
Individual or collaborative projects, with a duration between 6 and 18 months and total eligible project costs between £25,000 and £500,000.
Collaborative projects, with a duration between 19 and 36 months and total eligible project costs between £25,000 and £2 million.
What percentage will be funded?
The research organizations in your consortium can share up to 30% of the total eligible project costs. If your consortium contains more than one research organization, this maximum is shared between them.
In the case of feasibility studies and industrial research projects, you can obtain funding for the eligible costs of your project of
In the case of experimental development projects closer to the market, you will be able to obtain financing of the eligible project costs of
If you would like to talk about whether your company is eligible for UK Smart Grants, then get in touch with our friendly team today.