The Technology Strategy Board (TSB) has just announced the opening of the new centralised Grant for R&D scheme formerly administered by the Regional Development Agencies.
All Grants for R&D are aimed at pre start-ups, start-ups, and small and medium-sized businesses from all sectors (except defence) across the UK.
Qi3 can help selected companies to formulate applications for these grants, which can be both complicated and time consuming. We conduct action-oriented market research through our proven TME (Technology Market Evaluation) methodology and provide technical project management support where required.
The grants themselves come in three forms (all figures shown as maximum)
- Proof of market: £25k grant at 60% of £41k project
- Proof of concept: £100k grant at 60% of £166k project
- Development of prototype: £250k grant at 35% of £714k project (for small enterprises)
- Undertake market research
- Establish the ‘go to market’ strategy
- Develop appropriate business models
- Analyse and improve your Intellectual Property position
- Develop the technical project plan and overall business plan
- Investigate export markets and channels
- Provide ‘due diligence’ information for potential investors
- Provide project management and technical expertise
We will also signpost you towards other sources of market and technology expertise where these are more appropriate than our in-house and associate resources.
For new enterprises seeking proof of market and investment readiness support, we are able to work with companies on a shared-risk basis through our Qi3 Accelerator programme.
Qi3 has had considerable success supporting companies’ business development strategies, and in winning grant funding – we typically help create projects valued at over £20m each year. We can’t guarantee that you will be successful in your grant application. Nevertheless our detailed knowledge of the grant system enables us to help you to focus on the desired attributes for each funding scheme.
Proof of Market
This grant enables companies to assess commercial viability, through:
- Market research
- Market testing and competitor analysis
- Intellectual property position
- Initial planning to take the project to commercialisation, including assessing costs, timescales and funding requirements.
- Duration – up to 9 months
- Maximum grant – £25k
- Funding proportion – up to 60% of total project costs
Proof of Concept
A grant to explore the technical feasibility and commercial potential of a new technology, product or process:
- Initial feasibility studies
- Basic prototyping
- Specialist testing and/or demonstration to provide basic proof of technical feasibility
- Intellectual property protection
- Investigation of production and assembly options.
- It also includes pre-clinical research studies for healthcare technologies and medicines, including target identification and validation.
- Duration – up to 18 months
- Maximum grant – up to £100k
- Funding proportion – up to 60% oftotal project costs
This funding is used by companies to develop a technologically innovative product, service or industrial process:
- Small demonstrators
- Intellectual property protection
- Trials and testing, including clinical
- Market testing
- Marketing strategies
- Identifying routes to market
- Product design work
- Phase 0 pre-clinical studies for medicines.
- Duration – up to 2 years
- Maximum grant – £250k
- Funding proportion – up to 35% of total project costs for medium enterprises; up to 45% for small and micro enterprises