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New R&D grants from TSB – opens 4 April 2011
Richard Malczyk - Wednesday, March 30, 2011
From 4th April 2011, the Technology Strategy Board (TSB) is taking over the R&D grant schemes previously managed by the Regional Development Agencies (RDAs).
Three new grants are available:
• Proof-of-Market Grant – Up to £25,000 towards 60% of costs over a max 9 month project to assess commercial viability
• Proof-of-Concept Grant – Up to £100,000 towards 60% of costs over a max 18 month project to explore technical feasibility
• Development of Prototype Grant – Up to £250,000 towards 45% of costs (micro & small enterprise) or 35% of costs (medium enterprise) of developing a commercial prototype
At a time of big Government cut-backs placing tough financial constraints on businesses, this is welcome news for those pioneering new innovations in the market. The overall budget may be restricted so businesses need to move fast to make the most of this opportunity.
See our funding page for further help and support.
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