Improved Grant for Research & Development
From 31 March, an improved R&D product from Finance South East now falls under the new simplified "Solutions for Business" banner. It includes a "Proof of Market" grant, as well as changes to the level of grant for a project.
The new 'Proof of Market' project tests the commercial potential of an innovative idea before a company undertakes costly R&D work. Such projects will last no more than 9 months. Grants of 60% of costs are available with a maximum of £20,000 available to SMEs.
There has been an increase in the rate of support for development projects to 40% for small businesses; the rate for development projects for medium sized businesses remains at 35%. Exceptional Projects in strategically important sectors such as life sciences and low carbon energy may now obtain Research grants covering 60% of costs up to £250,000 and Development Grants covering 35-40% of costs up to £500,000.
All changes plus brief SME definitions are summarised in the Quick Look Guides which, together with new application documents and guidance notes, can be accessed via the Finance South East web site at http://www.financesoutheast.com/businessgrants
Carbon Trust pre-application summary
Finance South East now collaborates with the Carbon Trust on grant proposals that might significantly reduce carbon footprint. In such cases, where the proposed technology has the potential for significant CO2 reduction and grant might exceed £50k, applicants should complete a Carbon Trust pre-app summary.
Finance South East will forward this to the Carbon Trust for review under the Carbon Trust's Applied Research scheme. If suitable, a full application will be invited. If not, the proposal will be returned to FSE for review under Grant for R&D. Full applications to the Carbon Trust's Applied Research Scheme are also to be submitted via FSE. Carbon Trust's full application and pre-application documents are downloadable from the FSE website http://www.financesoutheast.com
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