Product and Process Innovation Funding
Tipple Associates Ltd
Product and process innovations are increasingly seen as crucial to businesses’ survival and growth. The Grant for Research And Development (GRAND, formerly SMART) is the Government’s flagship scheme for supporting innovation. The scheme offers hundreds of thousands of pounds worth of grant support to eligible businesses and individuals with the right projects.
Tipple Associates Ltd works mainly with established businesses to create good projects; access these grants and exploit the opportunities for innovation that businesses recognise, through a detailed knowledge of their markets. Often the management are too busy with day-to-day activities to prepare their own applications, and that’s where we come in. We help to put together the various elements of a project and actually draft the application forms, spreadsheets, proposal documents, etc. We meet with clients face-to-face when necessary, but much can be done by phone and e-mail to minimise interruptions to existing business.
Often product innovation involves the creation of supply chains to develop, produce and support new products and processes. We are commonly approached by companies who are part of such potential supply chains, and work with their clients to develop and fund projects. Naturally many of these product opportunities involve electronics and embedded software.
The GRAND Scheme offers a range of potential Awards, based on the stage of the project, the risks, costs, etc. Part of our service is helping potential applicants to decide whether their proposed innovations are suitable for the scheme, and for which Award to apply.
In outline there are four distinct Awards:
Micro Project Award
Grant Value: £5,000-£20,000; Percentage: 45%; Approximate eligible total project costs: £11,000-£46,000
Research Project Award
Grant Value: £20,000-£100,000; Percentage: 60%; Approximate eligible total project costs: £34,000-£170,000+
Development Project Award
Grant Value: £20,000-£250,000; Percentage: 35%; Approximate eligible total project costs: £60,000-£750,000
Exceptional Development Project Award
Grant Value: £250,000-£500,000; Percentage: 35%; Approximate eligible total project costs: £750,000-£1,500,000
Eligible project costs can include internal labour costs and overheads, though the proportion of a project that can be sub-contracted or involve consultants is deliberately limited. A ‘catch’ potential applicants often miss is that the Award is to help fund ‘technical risk’, and they don’t investigate the grant opportunities early enough. We are pleased to offer a free early review of project ideas with Members and Associates alike. Naturally that benefit can also apply to their potential clients and their projects.
We also assist companies with their engineering requirements and with obtaining funds from other sources including a variety of local and national organisations.
Our terms vary according to the level of our involvement, the complexity and value of the project and the requirements of the organisation(s) to which an application is to be made. Unfortunately our fees are not an eligible cost under most of the schemes, but on many occasions we have identified eligible project costs that the applicant has overlooked, and they can be worth several times our total fee.
Our offer to Members of Electronics Yorkshire
We offer Full and Associate Members a free, no obligation project review of up to two hours during which we will look at the project idea, the proposed project team, the route to market, the potential for intellectual property rights and alternative sources of project funding.
All Full Members of Electronics Yorkshire will receive preferential rates on a subsequent grant application.
Contact details:
Roger Tipple : Tipple Associates Ltd : Tel 0845 004 6745 : 0191 303 8058 : Website www.tippleassociates.co.uk
