FI Group UK

SMART: SCOTLAND Grant

Empowering Innovation with the SMART: SCOTLAND Grant

At FI Group, we are dedicated to supporting the growth and innovation of small and medium enterprises (SMEs). One of the key resources available to Scottish SMEs is the SMART: SCOTLAND grant, a research and development grant designed to support high-risk, highly ambitious projects. This grant is an excellent opportunity for businesses to explore and develop ground-breaking ideas with commercial potential.

What is the SMART: SCOTLAND Grant?

The SMART: SCOTLAND grant is aimed at SMEs in Scotland, providing financial support for feasibility studies. These studies help businesses determine the viability of their innovative ideas in real-world scenarios. The grant is specifically designed for projects that involve significant technical risks and challenges, pushing the boundaries of technological innovation.

Eligibility Criteria

To qualify for the SMART: SCOTLAND grant, applicants must meet the following criteria:

  • Be a small or medium-sized business, university spin-out, or an individual.
  • Be based in Scotland or planning to set up in Scotland.
  • The project should represent an advance in technological innovation for the UK industry or sector.
  • Applicants must own or have the rights to use the intellectual property required for the project.
  • The business must have the necessary management and technical expertise and resources to ensure the project’s success.
  • Both the project and the business must be financially viable.
  • Financial assistance from SMART: SCOTLAND must be essential for the project to proceed.

Benefits of the Grant

The SMART: SCOTLAND grant offers substantial financial support, covering up to 70% of eligible costs for small enterprises and up to 60% for medium enterprises. The maximum grant available is £100,000, with studies lasting between 6 and 18 months. The funding structure includes an upfront instalment of one-third of the grant, with the remainder paid quarterly in arrears.

Additionally, companies awarded the SMART: SCOTLAND grant will work with specialist teams to review their approach to Fair Work. This includes:

  • Effective voice and employee engagement channels.
  • Investment in workforce development.
  • Actions to tackle the gender pay gap and promote diversity and inclusion.
  • No inappropriate use of zero-hours contracts.
  • Payment of the Real Living Wage.

Application Process

To review your eligibility for the SMART: SCOTLAND grant contact one of the FI Group inhouse grants experts based in Edinburgh here.

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