It was evident from talking to the Technology Strategy Board at the recent Innovate 11 conference that the new single company R&D grants introduced in April of this year are experiencing very heavy demand in grant applications.
With a £20 Million national budget, that’s not enough to satisfy the needs of each of the UK regions – especially when you realise that London’s SMEs were unable to secure Grants for R&D from the LDA over the last few years! At a time of tough financial constraints, with other support schemes closed and banks failing to lend – it’s not surprising that innovative businesses are turning to the TSB for help.
What this means in practice, is that grant applications have become extremely competitive with only the very best securing grants. Grant applicants cannot afford to be complacent about their applications and need to put forward a compelling business case with good evidence to support funding.
See our funding page for further help and support.