R&D Grants and tartan trousers
Ken and Anis meet Michael Cannon, who runs the Innovation Grants team in Scottish Enterprise and ask for support for their brilliant idea for heated tartan trousers!
SMART: SCOTLAND provides discretionary grants to support technical and commercial feasibility studies, and research and development (R&D) projects.
Technical and commercial feasibility studies are defined as studies involving early stage R&D to enable informed decisions on the technical and commercial feasibility of a new product or process. Support is available on a discretionary basis at up to 75 percent of the eligible project costs. Projects must last between 6 and 18 months, and the maximum grant is £70,000. One third of the grant is paid upfront when the project starts. The remainder is normally paid quarterly in arrears against claims submitted.
R&D projects are projects that aim to develop a pre-production prototype of a new product or process. Support is available on a discretionary basis at up to 35 percent of the eligible project costs. Projects must last between 6 and 36 months, and the maximum grant is £600,000. The grant is normally paid quarterly in arrears and minimum project costs should be £75,000.
Any small to medium sized enterprise (SME) that meets the eligibility criteria may apply for our R&D grant, irrespective of whether they receive support for a feasibility study.
Would the innovation grants support their brilliant tartan trousers idea? Will he tell them to belt up and fly off? Or will there be a turn-up for the books?