SMART Funding for Business

March 14, 2014 8:44 am


Smart is a grant scheme offering funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.

The scheme supports SMEs carrying out R&D which offer potentially significant rewards and that could stimulate UK economic growth.  There are three types of grant available:
  • Proof of market
  • Proof of concept
  • Development of prototype.
Any UK SME undertaking research and development may apply; applications are accepted on a rolling basis for assessment by independent experts.  The new batch assessment dates for Smart scheme applications during the financial year 2013/14, which starts on 21 March, are:
  • 2013 close dates:  23 May, 18 July, 26 September, 21 November
  • 2014 close dates: 30 January, 27 March
Please note: The batch assessment date for Round 6 of the current financial year 2013/14 is 27 March 2013 12:00 noon
Smart responsive mode is “always open”. However to assist the Technology Strategy Board in the processing of these applications, we assign them into batches for final assessment and funding.
For more information about how you can obtain SMART funding, please visit the Technology Strategy Board’s dedicated webpage.  Ashfield & Mansfield also run an innovation grant which offers up to £5K for capital and revenue projects designed to boost local companies’ innovation levels; to find out more please visit our online brochure.

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