A selection of Scottish bank notes

Business funding opportunities

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.

You can compare some of the most popular funding schemes below.

 Grant valueCompany contributionEligibility criteriaAdministered by

Scottish Funding Council Innovation Voucher*

Scottish Funding Council & Innovation Vouchers logo  

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

Innovate UK logo  

up to £25,000 at least 40% cash UK small business Innovate UK

Scottish Enterprise SMART: Scotland programme

Scottish Enterprise and SMART logos


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.