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UK Research & Development Grant Funding

Does your business invest in the scientific or technological research necessary to develop new, ground-breaking products?

UK research and Development Grant Funding tax credit guide

Are you getting the financial boost of an R and D government grant? Your competitors are…

What is Research and Development Grant funding?

R and D government grants are a great way for SMEs to increase their investment in R and D projects. It is another way that the government is seeking to boost the entire economy by supporting innovation in technological and scientific breakthroughs.

How we can help

As you already know, grant applications of any kind require time, effort and patience. It means coming away from your business focus and turning your attention to something that usually feels like a ‘pot luck’ scenario. Despite the substantial amount you can potentially receive with a successful application, a failed claim is a substantial, costly waste of your time. This is an understandable reason why many forward-thinking businesses are missing out on thousands of pounds worth of grant funding.

There are even more grant options available now, with the government’s recent changes. The wisest business entrepreneurs get in experts appropriate to every level of development and to maximize your success, this needs to include funding. We have the up-to-date knowledge and experience to analyse which grant option is best for your business, negotiate the intricacies of the criteria and successfully secure funding for your next R and D project.

Our pricing structure is completely transparent, with a free initial inquiry, no hidden costs and a success based final fee. We are your time efficient and cost effective solution to the R and D grant application headache.

What are the recent changes?

The government has already published the grant funding changes for 2016-17, under the auspices of ‘Innovate UK’. The driving aim is stated as ‘simplification’ and is an entirely new system, erasing the previous SMART scheme. The main difference to the new Innovate UK is the emphasis on businesses working together.

The SMART scheme you are familiar with allowed applications for match-funding up to £250,000 to be spent on your own business’s research and development projects. You might be familiar with the catchy sub-titles ‘Feasibility Studies and Knowledge Transfer Partnerships’ or ‘Collaborative R and D’.

Innovate UK stipulates that businesses can now only apply for match-funding up to the value of £100K for independent R and D projects. In order to qualify for a grant of up to £250,000, the project must involve working with another business partner. This is a massive change and is designed to “support and stimulate innovation in the UK economy”.

The qualifying R and D categories are, straight from the horse mouth (ie: Gov.UK):

  • fundamental research
  • industrial research
  • experimental development
  • feasibility studies

The next available grant competitions are from one of the following, government determined categories:

  • emerging and enabling technologies
  • infrastructure systems
  • health and life sciences
  • manufacturing and materials

There is also an ‘Open’ option for any industry sector or technology to apply for an R and D grant.

Inevitably, the introduction of new regulations increases the complexity of the application process – frustrating to those of you who have put in the hours getting your head around the SMART schemes.

Basically there are now two possible application systems to apply through, which depend on the length and cost of your project:

  • Projects lasting between 1 and 3 years and with a cost of £2m (maximum)
  • Projects lasting no longer than 12 months and costing no more than £100K.

Who can enter?

Large companies and SMEs are allowed to enter the Innovate UK grant funding competitions.

What factors determine the ‘intervention rates’?

There are two main determining factors: the size of the company and the type of project.

In other words; if you are categorized as a large, medium or small company and if your project is defined as ‘experimental development’, ‘technical feasibility study’ or ‘industrial research’.

How we add value

At RandDtaxcredits.co.uk, we combine broad technical knowledge with our R and D expertise to choose the grant competition that best matches your business’s R and D projects.

You give us the details of your project’s grant possibilities and we diligently pursue every piece of evidence we need to submit a successful application. We can come to you and unobtrusively gather all the necessaries, so you can continue with business as usual.

Your grant application is constructed by incredible, expert professionals, with minimal time and effort from you. It will meet all official criteria, be written in the correct technical language and submitted by the relevant deadline.

We are just another expert you hire to ensure that you can bring your ideas to life. It doesn’t make sense not to give us a call.

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