Empowering Success with Data-Driven Insights
Sourcing funding for technology development projects is a critical step for businesses, researchers, and organisations seeking to innovate and bring new products or services to market. There are various avenues available to secure financial support for bridging the gap between a concept with high technical risks and an investible product. A notable avenue is government grants focused on derisking ground-breaking innovations.
Grants Funding
Government agencies play a significant role in funding technology development projects. In the UK, several key programs and organizations offer support:
UK Research and Innovation (UKRI)
UKRI, which encompasses Innovate UK and seven research councils, provides a wide range of funding opportunities. They offer grants ranging from £25,000 to £10 million for time-limited projects, typically covering a portion of the total costs. UKRI runs regular funding competitions, including projects addressing societal challenges aligned with the government’s industrial strategy, Knowledge Transfer Partnerships for businesses collaborating with academic institutions, open programs funding innovative companies across various sectors, and more.
Innovate UK Smart Grants
These grants are designed to support businesses in developing and commercializing innovative products, processes, or services. They fund activities such as feasibility studies, research and development projects, and testing and demonstration activities.
Regional and Local Funding
Businesses can also explore regional grants through organizations like Growth Hubs in England, Business Wales, Scottish Enterprise, and Invest NI. Local councils may offer additional R&D funding opportunities.
European Union Funding
Despite Brexit, some EU grant programs remain accessible to UK businesses, including Horizon Europe and Eureka Eurostars.
Private Sector and Corporate Funding
Large companies sometimes offer R&D grants to small businesses. Additionally, incubators and accelerators can provide funding and support for technology development projects.
Specialised Funding
Several specialized funding programs cater to specific sectors or types of projects:
Digital and Technology Funding
Organizations like the National Lottery Community Fund and Catalyst offer funding for digital projects and technology development in the charity sector. Nominet runs funding programs focused on digital solutions for specific issues.
Sector-Specific Grants
Innovate UK offers sector-specific funding competitions, such as the Agri-tech and food technology grants for projects in Eastern England.
Five reasons to choose us
- Tailored Approach: We understand that every startup is unique. Our research methodologies are customized to your specific needs and goals.
- Actionable Insights: We don’t just provide data; we deliver clear, actionable insights that you can implement immediately.
- Time and Cost Efficiency: Our expertise allows you to gather critical market intelligence quickly, saving you valuable time and resources.
- Reduced Risk: Make strategic decisions with confidence, backed by solid evidence and market understanding.
- Competitive Edge: Stay ahead of the curve with in-depth knowledge of your target market and competition.