Up to 70% funding available for Manufacturing and Material innovation
The aim of the scheme is to stimulate and broaden innovation in manufacturing and materials. The scheme will fund a range of projects that address identified technical or commercial challenges and lead to increased productivity, competitiveness and growth for UK businesses.
A project must cover at least one of the following areas:
- Innovation in a manufacturing system, technology, process or business model.For example, in process engineering, industrial biotechnology, mechanical conversion processes, coatings, surface engineering, textiles, supply chain management, new product introduction processes or remanufacture.
- Innovation in materials development, properties, integration or reuse. For example, for light-weighting, energy generation and storage (heat and electricity), electronics/sensors or operation in demanding environments
Projects must focus on a manufacturing or materials innovation, rather than a product innovation. This means the main challenge and risk in the project will be in the manufacturing process or materials development.
- addressing the manufacturing readiness of growing sectors
- the development of more flexible or efficient processes
- processes that enable greater customisation of products to fit diverging consumer needs
- the development of materials for targeted performance specifications
- the development of materials for ease of manufacture
- the diversification of product and service lines to address new markets
- the development of novel services that open up new sources of revenue from manufacturing
Projects that involve one of the following new materials;
- metals and inter-metallics
- smart materials
- joining of dissimilar materials
Funding and project details
Innovate UK have allocated up to £15 million to fund innovation projects. There are £5 million available for projects lasting up to 1 year, £5 million for projects lasting up to 2 years and £5 million for projects up to 3 years.
For technical feasibility studies and industrial research projects, you could get:
- up to 70% of your eligible project costs if you are a micro/small business
- up to 60% if you are a medium-sized business
- up to 50% if you are a large business
For experimental development projects which are nearer to market, you could get:
- up to 45% of your eligible project costs if you are a micro/small business
- up to 35% if you are a medium-sized business
- up to 25% if you are a large business
Projects are expected to last from 6 months to 3 years and to range in size from total costs of £50,000 to £2 million.
Know someone who would be eligible?
If so, then let us and them know! In addition to helping them access an interest-free, repayment-free, equity-free grant to grow their business, we also pay healthy commission on all referrals passed to us.
All consultations and grant finding is done free of charge and we only earn once both parties have identified a suitable opportunity with a good chance of success. For further details please click here.
About Tatton Consulting
We help innovative and growing SMEs identify, apply for and secure the funding and grants that they are eligible for. Our team has secured over £26.5 million in repayment-free, interest-free, equity-free funding to help our clients innovate and grow. Fundable projects include;
- R&D led innovation
- Capital investment and expansion
- Development of Green technology
- Patent development
- Technology-driven start-ups
If you would like to explore what funding opportunities are available at the moment or would like to discuss your project, then please;
- call us on 0161 826 2256
- email us at firstname.lastname@example.org
- follow us on twitter @UKgrantfunding
- check out www.UKgrantfunding.co.uk
Alternatively contact us by clicking on one of the links below. We look forward to hearing from you and discussing your project further
— Mark Clayton