Projects are expected to start by 2 June 2021 and can last up to three months.
To lead a project, you can:
- Be an organisation of any size
- Work alone or with others from business, research organisations, research and technology organisations or the third sector as subcontractors
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.
A total of up to £45,000 inclusive of VAT is allocated to phase 1.
Feasibility study R&D contracts will be up to £15,000 inclusive of VAT will be awarded for each successful project for up to three months. Innovate UK expect to fund up to three projects.
Total costs must include VAT. VAT is the responsibility of the invoicing business, and applications must list total costs inclusive of VAT. You will be asked if you are VAT registered before entering your project costs.
If you are a VAT registered organisation you will not need to enter your costs inclusive of VAT as the application form will calculate the VAT for you.
If you are not VAT registered then you can quote without VAT but you will not be able to increase invoice values to cover VAT later on.
The second phase involves up to 2 contracts being awarded to businesses chosen from the successful phase 1 applicants. Up to £57,500 inclusive of VAT will be allocated for each contract, to develop a prototype and undertake field testing for up to nine months.
The total funding available for the competition can change. The funders have the right to:
- Adjust the provisional funding allocations between the phases
- Apply a ‘portfolio’ approach
- 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 cover:
- Solutions that are incompatible with the current technologies used by the healthcare community and the main patient population in Scotland
- Basic research or exploratory studies where an idea or solution has not been identified
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.