Deadline: 7-Dec-22
The West of England Growth Hub has launched the Business Innovation Fund Round 4 to support businesses to undertake research and development (R&D) activities that leads to the creation of new products, processes and/or services, including through developing prototypes and proving concepts, development work, testing and trialling.
The Business Innovation Fund can support projects at the experimental development stage (i.e. closer to commercialisation) of R&D, in order to support innovative, disruptive and ambitious ideas leading to the creation of new products, processes and/or services.
Funding Information
- A grant of between £20k-50k will be awarded to SMEs undertaking R&D activities individually, which will cover up to 40% of total eligible project costs.
- Your project must be completed within 6 months of a grant award, and by 31st May 2023 at the latest.
Benefits
- Funding: Grants to help progress research and development (R&D) activity.
- Research and development: Bespoke assistance to help develop your R&D ambitions.
- Expertise: Connection with their region’s leading research organisations.
Geographic Areas: Your business and the project location must be based in the council areas of Bath & North East Somerset, Bristol, North Somerset or South Gloucestershire.
Eligibility Criteria
- Based in the West of England
- You are able to match fund the cost of your project
- All applications must be by an SME. This means that your business needs to:
- be an economic enterprise that sells goods or services for profit;
- meet the definitions, in terms of staff headcount, turnover and balance sheet,
- be a small or medium sized business with a staff headcount lower than 250.
- The Business Innovation fund is not able to support Sole Traders.
- The Business Innovation Fund is cross-sector and therefore SMEs from many sectors can apply.
For more information, visit https://www.westofengland-ca.gov.uk/growth-hub/technology-innovation/business-innovation-fund/