In today’s fast-paced business environment, innovation is key to staying competitive. Scottish Enterprise’s Research and Development (R&D) Grants are designed to support businesses in Scotland that are looking to innovate and grow. These grants provide crucial funding to help companies develop new products, processes, and services, ensuring they can compete on a global stage.
Overview
- Award Body: Scottish Enterprise
- Funding Amount: The minimum grant considered is £150,000
What Projects Can Scottish Enterprise R&D Funding Support?
Scottish Enterprise is looking for projects that are new and innovative—initiatives that your company hasn’t undertaken before. Whether you’re working independently, with a commercial partner, or as part of a collaborative effort, the focus is on fresh ideas that push the boundaries of what’s possible.
Key Benefits
- Financial Support: The grants offer substantial financial assistance, covering a portion of the costs associated with R&D projects. This can include expenses related to staff, equipment, materials, and external consultancy.
- Risk Mitigation: By providing funding, Scottish Enterprise helps businesses mitigate the financial risks associated with R&D activities. This support can make it easier for companies to invest in innovative projects that they might otherwise find too risky.
- Competitive Edge: Companies that invest in R&D are often better positioned to develop cutting-edge products and services, giving them a competitive edge in the market.
Priority Areas for Economic Transformation
The Scottish Enterprise R&D grants are designed to support projects in key areas that drive economic transformation:
- Energy Transition: Developing an internationally competitive energy transition industry in Scotland.
- Innovation Strengths: Expanding the impact of Scotland’s innovation strengths into high-growth industries of the future.
- Productivity: Driving capital investment to significantly boost Scotland’s productivity.
By focusing on these areas, Scottish Enterprise aims to foster a vibrant, innovative economy that can compete on the global stage.
Am I Eligible for Scottish Enterprise’s Research and Development Grants?
At FI Group, we want to help you determine if your project qualifies for Scottish Enterprise’s R&D Grants. Here’s a breakdown of the eligibility criteria:
General Eligibility
All sectors are eligible for these grants. You may qualify if:
- Location: Your business is based in, or planning to locate in, Scotland, within the area served by Scottish Enterprise.
- Innovation: Your project represents a significant innovation for your company.
- Commercial Prospects: You can demonstrate that your idea has commercial potential.
- Expertise and Resources: You have the necessary management and technical expertise and resources, either in-house or externally sourced, to ensure the project’s success.
- Funding Necessity: The project cannot proceed without the R&D grant, or would only proceed on a slower timescale or with a significantly reduced scope, impacting the commercial opportunity.
- Viability: Both the project and the business are financially viable.
Potential Ineligibility
You may not be eligible for the Scottish Enterprise Research and Development grants if:
- Business Type: You are a sole trader or a charity.
- Third-Party R&D: Most of the R&D activity is being undertaken by third parties.
- Project Status: Work has already started or commercial contracts are in place.
- Routine Changes: The project focuses on routine or periodic changes or updates to products, processes, or services, even if these changes represent improvements.
- Environmental/Societal Impact: The end product will have a known adverse effect on the environment and/or society.
- Location: Your project is located in the Highlands and Islands or southern Scotland – in this case, you should apply to your local enterprise agency for funding instead.
Available Support for Innovative Projects
For SMEs:
- Small or medium-sized enterprises (SMEs) working independently on innovative projects can receive grants covering 35% to 50% of their eligible project costs.
For Large Companies:
- Large companies working independently on innovative projects can receive grants covering 25% to 40% of their eligible project costs.
For Consortiums:
- Consortiums (comprising two to six companies) engaged in eligible R&D projects can receive the same levels of support as mentioned above.
The minimum grant considered is £150,000.
How FI Group can help
At FI Group, we offer a comprehensive Grants Roadmapping Service designed to streamline the application process for Scottish Enterprise’s R&D Grants. Our team of experts works closely with your business to identify the most suitable funding opportunities and develop a strategic roadmap tailored to your specific needs. We assist in preparing a compelling application that highlights the innovative aspects of your project and its potential economic impact. By leveraging our extensive experience and industry knowledge, we help you navigate the complexities of the application process, ensuring that your project stands the best chance of securing the necessary funding to drive your innovation forward.