Many companies have the need for Research and Development or process / product improvement projects, however funding these projects can be a significant financial commitment. If your company meets the requirements of eligibility for funding and the project fits within the criteria then there are significant level of grants available for projects of all sizes. These funds are available as a rapid government backed support of UK industry to help strengthen its market potential going forward. The lead time for the grants can be rapid, particularly for the smaller projects.
At LPD Labservices we can work with your staff to provide the analytical and R&D support required as part of these projects and we would be happy to put together a proposal for our input as part of the application process.
The types of funding available are:
- Micro project grants for developing a simple, low-cost prototype of an innovative product or process.
- Research project grants for assessing the technological and commercial feasibility of turning highly innovative technology into a new product or process.
- Development project grants for developing a pre-production prototype of a new product or process involving a significant technological advance.
- Exceptional development project grants for the development of a new technology that is strategically important to an industrial or technology sector.
- Micro projects: £2,500 to £20,000 (50 % of costs)
- Research projects: £20,000 to £75,000 (normally 60 % of costs)
- Development projects: £20,000 to £200,000 (normally 35 % of costs)
- Exceptional projects maximum: £500,000 (35 % of costs)
The grants will be administered by your local Business Link office and further information can be obtained from them: