Many funding options are available to help your business grow. Most schemes are match-funded, meaning businesses are expected to make a cash or in-kind (staff time, materials, access to facilities etc) contribution to the project to match the value of the grant.
You can compare some of the most popular funding schemes below.
|Grant value||Company contribution||Eligibility criteria||Administered by|
|up to £5,000||in-kind or cash||Scottish SME; new engagements only||Interface|
|up to £20,000||cash and in-kind - percentage dependent on grant value sought||Scottish SME; new engagement or previous completed knowledge exchange project||Interface|
|up to £25,000||at least 40% cash||UK SME||Innovate UK|
|up to £100,000||at least 30 to 40% cash (dependent on company size)||Scottish SME/spin-outs/individuals||Scottish Enterprise|
*Please note, this scheme doesn't cover the following:
- work which can be undertaken by a commercial company
- student internships
- sales/marketing activities
- consultancy projects, ie drafting of business plans
- equipment purchase (rental only)
- training courses
- software purchase
- VAT incurred
This list is by no means exhaustive. There are numerous funding schemes available to businesses to provide assistance at various stages of product or service development. Each have their own eligibility criteria; to explore these and more funding options, please visit the websites of some of the major funders.