Many funding schemes are available to help your business work with academia to further develop your products and services.
Most grants 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.
Compare some of the most popular funding schemes:
| Funding scheme | Grant value | Company contribution | Eligibility criteria | Administered by |
|---|---|---|---|---|
|
Scottish Funding Council Innovation Voucher*
|
up to £5,000 | in-kind or cash | Scottish small business; new engagements only | Interface |
|
Scottish Funding Council Advanced Innovation Voucher*
|
up to £20,000 | cash and in-kind - percentage dependent on grant value sought | Scottish small business; new engagement or previous completed knowledge exchange project | Interface |
|
Innovate UK funding competitions
|
up to £25,000 | at least 40% cash | UK small business | Innovate UK |
|
Scottish Enterprise SMART: Scotland programme
|
up to £100,000 | at least 30 to 40% cash (dependent on company size) | Scottish small business / 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. A Strathclyde Links advisor can also provide advice once you have scoped a project with our academics.