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  • Technology Strategy Board Smart Awards
    Do you have a product you would like to develop but you could do with some help with the costs? You may be eligible for a Technology Strategy Board Smart award. The Technology Strategy Board offer matched funding that can go towards your research and development costs.

    This funding is available to UK based SME’s (small and medium sized enterprises) to help with the cost of engaging in research and development work in the areas of Science, Engineering and Technology.
    You can apply for this funding against capital and revenue costs. Pre start-up, start-up or SME’s are eligible but you can only submit one application per category, per round.

    There are three types of grant available:

    Proof of Market This grant helps companies to assess whether their project is commercially viable through:

    • Market Research
    • Market Testing and Competitor Analysis
    • Intellectual Property position
    • Initial planning to take the project to commercialisation, including assessing costs, timescales and funding requirements

    Projects can last up to 9 months, have a maximum grant of £25k, up to 60% of total project costs may be funded.

    Proof of Concept This grant can be used to explore the technical feasibility and commercial potential of a new technology, product or process, including:

    • Initial feasibility studies
    • Basic prototyping
    • Specialist testing and / or demonstration to provide basic proof of technical feasibility
    • Intellectual Property protection
    • Investigation of production and assembly options
    • It also includes pre-clinical research studies for healthcare technologies and medicines, including target identification and validation

    Projects can last up to 18 months, have a maximum grant of £100k, up to 60% of total project costs may be funded.

    Development of Prototype This funding is used by companies to develop a technologically innovative product, service or industrial process, and can include projects such as:

    • Small demonstrators
    • Intellectual Property protection
    • Trials and testing, including clinical
    • Market testing

    Projects can last up to 2 years and have a maximum grant of £250k, up to 35% of total project costs for medium enterprises, or up to 45% for small and micro enterprises, may be funded.

    If you would like to find out more you can visit The Technology Strategy Board website or call LDT Design on 01904 691 476 to check project criteria for a TSB grant application.

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