- Start on 1st January 2022
- End by 31 March 2022
- Last up to three months
- Have maximum total eligible costs of £50,000 inclusive of VAT
To lead a project, you can be an organisation of any size
Contracts will be awarded only to a single legal entity. However, if you can justify subcontracting components of the work, you can employ specialist consultants or advisers. This work will still be the responsibility of the main contractor. It is expected that all participants will work with an in-country unfunded partner, in Australia, Canada or India, to develop and demonstrate your products or services for the market.
A total of up to £450,000, inclusive of VAT, is allocated to this competition.
Feasibility study R&D contracts will be up to £50,000, inclusive of VAT, for each project for up to three months. Innovate UK expect to fund up to nine projects.
The total funding available for the competition can change. The funders have the right to apply a ‘portfolio’ approach across the competition themes, and technologies.
The contract is completed at the end of the feasibility study, and where possible, the successful business is expected to pursue commercialisation of their solution.
Research and development
Your application must have at least 50% of the contract value attributed directly and exclusively to R&D services, including solution exploration and design.
R&D does not include:
- Commercial development activities such as quantity production
- Supply to establish commercial viability or to recover R&D costs
- Integration, customisation or incremental adaptations and improvements to existing products or processes
Innovate UK will not fund projects that:
- Do not deliver against the challenges identified for each market
- Are not accompanied by a letter of support from a partner in Australia, Canada, or India
- Are not within a year of being ready for market
- Do not contain a significant level of innovation relevant to the rail industry
- Have total eligible costs or project terms outside of the eligibility guidance
Cresco Innovation works with companies to develop and implement innovation strategies. We help client companies identify opportunities to develop new products and services, and then create a package of support to ensure that the idea is turned into a commercial reality.
Our services include securing grants (as a team we have raised around £40million over three years), business planning, IP advice, access to finance and funders, project management and IP commercialisation support.
We regularly act as the interface with the funding bodies and help clients ensure that their projects are properly managed to ensure the best outcome for all.