Fast Start: Innovation
Innovate UK is offering small and micro businesses a share of up to £30 million in grants alongside tailored business support delivered by Innovate UK EDGE. You can apply for up to £50,000 for highly innovative ideas that have a clear route to commercialisation through business growth.
Your project must lead to new products, processes or services that are significantly ahead of others currently available, or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model.
In your application, you must be able to show that you:
- Have a great idea.
- Need public funding.
- Have the capability to deliver the project.
- Will deliver the project.
Your idea must focus on either achieving net zero or self-driven healthcare, and how new technology can enable affordable, adoptable and investable innovations in these areas. They are particularly interested in proposals which will help you:
- Develop both your idea and your business.
- Create a new revenue stream.
- Evidence and enable your market, funding and commercialisation plans.
- Show what’s feasible, helping you decide whether to pursue your idea further.
- Catalyse further innovation on your path to commercial success.
- Respond to changing market conditions.
The competition closes on Tuesday 26 July 2022 11:00am.
QUOTE FROM BM R&D TEAM MEMBER “Projects subsidised by Innovate UK grants can be claimed under the R&D tax relief scheme. Furthermore, Post-Brexit, HMRC has now relaxed how tax relief restrictions are calculated regarding expenditure incurred their undertaking, for R&D tax relief purposes, meaning that greater corporation tax relief from be acquired therewith. Please contact a member of our team to discuss this further, as well as for some real-world, working case studies.”
If your company is undertaking research and development to create new and innovative products and services or improve existing ones, did you know that you probably qualify for valuable Research & Development (R&D) Tax Relief from the Government?
For more information, or to arrange a no obligation preliminary meeting on how your company could qualify under the R&D Tax Relief scheme, please contact us.
See: Competition overview – Fast Start: Innovation – Innovation Funding Service (apply-for-innovation-funding.service.gov.uk)