Working with innovative companies we frequently come across those who have successfully applied for grant funding and would like to highlight two funding opportunities which are currently available. Do bear in mind that any grants received can have a significant impact on any R&D relief so it’s always sensible to consider the two in tandem.
Sustainable Innovation Fund – deadline 30 September
Funding is available for up to 80% of project costs, to a maximum of £175k. The aim of the fund is to help the economy recover in the aftermath of COVID19. Applications must show that the key challenges arise as a direct result of COVID19 and must consider climate change/environmental sustainability. Funding is available across all sectors, technologies, markets and regions. Areas where qualifying projects might focus include decarbonisation, innovation aimed at commercial or residential users and regionally targeted innovation. See overview
Smart grants – deadline 25 November
Up to £25m is available to be invested in game changing, commercially viable innovative and disruptive ideas for new products, processes or services. The competition is open to all areas of technology and all sectors of the economy. Funding for projects with costs between £25k and £2m will be considered and applications with realistic and significant potential for global markets will be given preference. See overview
Claiming R&D tax relief is very often simpler than many people expect. So if your business is making an ‘appreciable’ improvement in technology or science, you could benefit from R&D tax reliefs.
To find out more, please contact a member of the Radius team and let us show you how easy it is to make your innovation pay.
Related links:
- Radius case study - Penny Hydraulics Limited
- Download our guide to making a successful R&D tax relief claim
- Visit our resource library for more guides
- R&D Tax Relief
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