Innovation Grant

Innovation-Grant-Page

Innovation Grant – What does it do?

It aims to stimulate innovation within SMEs to encourage and enable existing businesses to invest for the future, to lever private sector investment, create new and safeguard existing jobs.

Who is the grant is open to?

  • SME’s across the Midlands which are looking to invest, create new jobs and safeguard existing jobs. 

How Much Is The Grant Worth?

  •  £10,000-£30,000
  •  Grant will be equivalent to 49.25% of eligible project costs
  •  For example the minimum grant of £10,000 will require a total project cost of £20,100 

Capital Expenditure

The purchase of capital equipment and improvements in systems or processes.

New Product Development

Assistance towards concept development, testing, prototyping, and product launch.

New market development

Assistance for carrying out studies, product branding, attendance at exhibitions and trade fairs.

Business Innovation Mentoring

Including consultancy support to implement new innovation processes within the business.

Eligible Sectors

  • Environment & Energy Technologies
  • Aerospace
  • Rail
  • Business and Professional Services Medical Technologies Building Technologies
  • IT & Digital
  • Advanced Materials & Manufacturing
  • Digital Media
  • Food and Drink