Smart – 2014-15 – Round 3
A grant scheme which offers funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology.
The scheme supports SMEs carrying out R&D which offers potentially significant rewards and that could stimulate UK economic growth.
Three types of grant are available:
SMART – 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.
Key features
– Duration – up to 9 months
– Maximum grant – £25k
– Funding proportion – up to 60% of total project costs
SMART – 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.
Key features
– Duration – up to 18 months
– Maximum grant – up to £100k
– Funding proportion – up to 60% of total project costs
SMART – PROTOTYPE DEVELOPMENT
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
– pre-clinical studies for medicines.
Key features
– 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
The date of registration for this round of funding is 17th July with a closing date of 25th September
Bevan Buckland Accountants Swansea Tel: 01792 410100
Bevan Buckland Accountants Haverfordwest Tel: 01437 760666
Bevan Buckland Accountants Pembroke Tel: 01646 682383
Bevan Buckland Accountants Carmarthen Tel: 01267 233115
Bevan Buckland Accountants St David’s Tel: 01437 720352