Grants...

If there is one question we get asked more than any other, it is 'are there any grants'?

Sadly, although there is a huge amount of money supposedly available for small businesses to progress Innovative Ideas, it can be very hard to get hold of. Over the past 4 years, we have been reasonably successful in finding grants but, in the South East in particular, there appears to be a move away from grants towards equity based loans instead.

However, we do keep a close eye on the grant situation and always review any possibilities with you. We will keep an up to date list of the most interesting grants here

These are some of the grants available for Innovative projects:

Grants for R&D - £20,000 to £500,000 for a technically innovative project at the pre-prototype stage.

Collaborative grants for R&D - experimental development (or research) done by 2 or more businesses in one of several defined areas. Competitive.

FP7 - innovative projects done by 2 or more businesses in one of several defined areas. Competitive.

Knowledge Transfer Partnerships - cost of employing one or more graduates on a 'significant' project working in partnership with a University.

PoCKeT - proof of concept stage of an innovative project working with a University. Grant repayable against future gross sales if exploitation successful. Exact details vary by region, details for the SE.

Nesta - National Endowment for Science, Technology and the Arts) - invest in early stage companies who have a strongly Innovative product/service. Not strictly a grant.

There are many other grants, but these tend to relate to specific industries and/or geographies. For example, there are several grants relating to climate change currently.

For a very good website to look up the latest grants for your specific project, see www.j4b.co.uk.

If you'd like help from cocreative with applying for a grant click here.

Some tips on applying for a grant:

• Look for a grant to fit your project, not a project to fit a grant.
• If you can, check whether your project is likely to qualify with the grant awarding body before you apply. It will save time and you can check any unwritten criteria.

• Write your application to fit with the criteria of the grant. It may seem obvious, but most people don't.

• Write clearly and without technical jargon.

• Stick to the rules. If the guidance says 12 pages max, don't exceed this. Don't omit anything important, as it will delay your application.

• Expect the process to take a long time. It helps to apply as early as you can.

• Don't start your project before you receive confirmation of a grant. Any work done before will not be funded.
  
  Good Luck!