Grant for Research and Development (GRD)
What is a GRD?
Do you have an innovative technology with commercial potential? Are you facing technical challenges to develop your idea and need financial support to help you overcome them? Well don't let good ideas go to waste - the Grant for Research and Development could help move your technology a step closer to the marketplace. The Grant for Research and Development is designed to help technology focussed entrepreneurs carry out research and deveopment work on innovative products and processes. There are four tiers of grant available, each supporting a different aspect of research and development.
Which Grant is For Me?
| Grant | Aim of Grant | Finance Available | Project Duration |
|---|---|---|---|
| Micro Project Grant | To develop a simple, low-cost prototype of an innovative product or process | 45 per cent of total costs up to £20,000 | Project should be completed within 12 months |
| Research Project Grant | To help assess the technological and commercial feasibility of turning highly innovative technology into a new product or process | 60 per cent of total project costs up to £100,000 | Project should take between 6 and 18 months to complete |
| Development Project Grant | To help develop a pre-production prototype of a new product or process involving significant technological advance | 35 per cent of total project costs up to £250,000 | Project should take between 6 and 36 months to complete |
| Exceptional Development Project Grant | To help develop a new technology that is strategically important to an industrial or technology sector | 35 per cent of total project costs up to £500,000 | Project should take between 6 and 36 months to complete |
Am I Eligible?
You can apply for the grant if you are a small to medium-sized business, or plan to set up a business. For specific grants, the following criteria apply:
- For a micro project grant your business must have less than 10 full-time employees and a turnover of no more than 2 million EURO
- For a research project grant your business must have less than 50 full-time employees and a turnover of no more than 10 million EURO
- For a development project or an exceptional development projetc grant your business must have less than 250 full-time employees and a turnover of no more than 50 million EURO
What Are the Assessment Criteria?
The principal criteria are:
- The level of technological innovation involved with the project
- The commercial potential of the product/process
- The experience, skills and track record of the applicant and business
- The need for the grant - grants will only be given if essential for the project
- The wider environmental or social benefits of the project
When can I apply?
Now! The Grant for research and Development is a rolling scheme and applications are welcomed all year round.
Contact
Please contact Rachel Spencer for more information
For a quick look quide to GRD funding click the following link:
Quick Look Guide to GRD