Great British Business: Manufacturing and Engineering

Funding and support for new ideas

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Funding and support for new ideas
It can be costly and time-consuming to research and develop a new product or service. But there are many forms of financial help that aim to support companies as they innovate and generate new ideas. These schemes range from tax reliefs and credits to grants and vouchers. In the case studies, you can discover how companies have benefited from this funding and support.

Technology Strategy Board SMART grants

Funding opportunities to help early-stage and small companies carry out science, engineering and technology research and development projects. Grants are available to assess potential markets, prove concepts and develop prototypes

https://www.innovateuk.org/-/smart

Small Business Research Initiative (SBRI)

The SBRI offers opportunities for early-stage, small and medium-sized companies to develop and demonstrate technology to public bodies acting as the lead customer

https://sbri.innovateuk.org/competitions

Research and Development Tax Credits

How to apply for tax credits when you are researching and developing a new business idea

http://www.hmrc.gov.uk/ct/forms-rates/claims/randd.htm#2

Patent Box

Offers a reduced corporation tax rate for companies that exploit patented inventions

http://www.hmrc.gov.uk/ct/forms-rates/claims/patent-box.htm

Technology Strategy Board Innovation Vouchers

Grants of up to £5,000 are available to support specialist Intellectual Property knowledge transfer from a first-time supplier

https://www.innovateuk.org/-/innovation-vouchers

European funding and support programmes

The EU has a substantial programme to support innovative SMEs. This support is provided via the Horizon 2020 Framework Programme and other programmes.

https://www.h2020uk.org/home

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