There is an extensive range of grant funding available to businesses. Over recent years, the range of grants available has expanded significantly and the scope of the qualifying criteria has widened. This ensures that money reaches businesses looking for funding opportunities that would otherwise see projects delayed or restricted, due to a lack of financial resources.
We have a specialist team that can secure government backed loans and grant funding for established manufacturers and innovative ‘early start’ companies. Our team will search out the best grant for the business, instead of shoehorning your clients into one particular type of grant. We have a huge customer portfolio, which allows us to introduce experts from outside the business if needed.
The success criteria for grant funding is often complex. Engaging with a specialist team significantly increases the chances of a business obtaining funding.
Regional Funds support eligible projects and programmes that are raising private sector investment to create economic growth and sustainable employment. The grants are typically 20% to 30% of total spend and there are also interest free loans available through the same scheme.
The Innovate UK scheme has a £561m budget to assist with tackling the funding gap often experienced by many small and early stage companies with innovative ideas, high growth, ambition and potential. The budget is split into a new industry sector focus. The sectors include: Emerging and Enabling Technologies, Health and Life Sciences, Infrastructure Systems, Manufacturing and Materials and Open Programme. Within each of these sectors there will be two broad competitions each year, plus two open competitions for applications from any sector within the open programme.
The scheme helps companies assess potential markets, prove concepts and develop prototypes. By reducing financial risks, it aims to encourage SME investment, increase innovation capability, accelerate the commercialisation of new products and services and contribute to economic growth.
Horizon2020 is the EU’s programme for research and innovation. It is running until 2020 with a budget of €80bn. The aim of the funding is to:
- fill gaps in funding for early stage, high risk research and innovation by SMEs as well as stimulating breakthrough innovations.
- target all types of innovative SMEs showing a strong ambition to develop, grow and internationalise.
- provide support to all types of innovation, including non-technological, social and service innovations, given each activity has a clear European added value.
The funding covers all fields of science, technology and innovation. This allows a wide variety of promising ideas, notably cross-sector and inter-disciplinary projects, to be funded. The funding provides easy access with simple rules and procedures, as well as a staged support in three phases which will cover the whole innovation cycle.
The three phases can be summarised as follows:
- Phase 1: The feasibility stage is used to assess the technological and commercial potential of a project. Companies use this to refine their concept and carry out risk assessment, IP regime, partner search, design study and pilot applications intention. Fixed grant of €50k.
- Phase 2: A main grant is provided to undertake research and development with the emphasis on demonstration and market replication. This includes: development, prototyping, testing, piloting innovative processes, products and services, miniaturisation/design of products, planning and developing scaling-up (market segments, process etc.) and market replication. Grant of €0.5m to €2.5m.
- Phase 3: The commercialisation phase will be supported indirectly through simplified access to debt and equity financial instruments, as well as various other measures, for example on IP protection.
Eurostars is the only European funding programme to be specifically dedicated to support R&D performing SMEs in their innovative R&D projects. With its bottom-up approach, it stimulates international collaborative research and innovation projects that will be rapidly commercialised. A Eurostars project can address any technological area for any market, but must have a civilian purpose and be aimed at the development of
Our peer to business funding partner offers an online marketplace where people and organisations lend directly to businesses. This lending and borrowing model has become an increasingly popular choice for companies seeking a loan facility.
Our peer to business funding partner offer loans for almost any purpose to suit your clients’ needs.
Available across a wide range of sectors, loans are suitable for:
a new product, process or service.
In the UK, only research-performing SMEs are eligible for funding under Eurostars. The Technology Strategy Board will fund up to 60% of eligible costs to a maximum grant level of €360,000 (on eligible project partner costs of €600,000) per UK partner in a Eurostars project.
The consortium must include at least two partners independent from each other and established in at least two different Eurostars countries.
Peer to business funding
- Expansion and growth
- Asset purchase
- Working capital and cash flow finance
- Property development and investment
We are always happy to discuss your clients’ requirements and after a brief meeting or telephone conversation, we will be able to advise on the most appropriate funding available.
To receive a free health check and discuss your funding requirements, call us on 01142 364457