Up to £16.5k Fund for a The Smart Concept Fund Proof-Of-Concept Grant
The Smart Concept Fund
The Smart Concept Fund offers Proof of Concept (POC) grant funding designed to support the commercialisation of new technologies. If successful, applicants will be awarded a grant of up to £16,500 at an intervention rate of up to 55% of approved project costs to help fund an approved product development project, subject to eligibility conditions.
The Smart Concept Fund – University of Wolverhampton (wlv.ac.uk)
What is Available?
The Fund can award successful applicants a grant of up to £16,500 at an intervention rate of up to 55% to help fund an approved product development project, subject to eligibility conditions. The Fund is open to applications and closure is expected in early 2023.
It is part-funded by the European Regional Development Fund (ERDF), so to be eligible for support businesses must be based within one of the three sponsoring LEP areas (Black Country, The Marches or Stoke on Trent and Staffs) and qualify as an SME (detailed conditions apply, but in summary, the company must have independent ownership, have fewer than 250 employees and an annual turnover of less than €50 million).
Smart Concept Fund can support businesses carrying out proof of concept work, targeted towards sectors which include:
- Transport Technologies (Including Aerospace and Automotive)
- Building Technologies/Construction
- Advanced Manufacturing and Advanced Engineering
- Environmental Technologies
- Applied Materials
- Agri-Tech/Agriculture, Food and Drink
- Medical Technology
- Energy Generation
- Defence And Securities
The aim of the Smart Concept Fund is to support companies to carry out a programme of development work, where third-party suppliers are contracted to provide expert services such as:
- Design Modelling
- Engineering Analysis
- Protection Of Intellectual Property
- Preparation Of Intellectual Property Agreements
- Market Research
- Pre-Clinical Tests
- Phase 1 Clinical Trials
- User Trials
- Product Testing (Including Compliance with Product Standards)
- Prototyping
Who Can Apply?
Who Is Eligible to The Project?
Smart Concept Fund is currently available to businesses in The Black Country, The Marches as well as Stoke on Trent, Staffordshire Local Enterprise Partnership areas. It can support small to medium enterprises that:
· Are independently owned.
· Have less than 250 employees.
· Turnover less than €50 million per annum.
How B&F Expert Advice Help You
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