Innovation Voucher Funding for SMEs to Help Your Business Grow

A new round of University of Kent Innovation Voucher funding is now available. The funding is primarily aimed at supporting smaller project collaborations between SMEs and the University with the voucher providing a 50% contribution towards the cost of a project, excluding VAT.

We hope that the initiative will stimulate new SME University collaboration and provide opportunities for fostering longer term partnerships. The latest round of funding was launched at the recent Business Growth through Innovation event for SMEs at the University on 19th June.

Funding can be used for a range of projects such as improving existing or scoping new products or services, initial set up of new systems and processes or developing frameworks and training to improve staff productivity. Recent projects have included: market research and analysis for diversification into new markets; new software development; initial scoping and research for product development; use of scientific facilities and other resources. For a recent example of a project first initiated through the Innovation Voucher funding scheme, please read our JSR Genetics case study. After initial collaboration, funded by the scheme, the partners successfully obtained significant financial support from the Technology Strategy Board to advance and expand the project.

Please apply by completing our online application form or by downloading the MS Word version and returning to enterprise@kent.ac.uk. Please also read our Terms and Conditions.

National Innovation Voucher Scheme

In addition, small UK businesses are able to obtain Government funding to help them develop and grow with the recent launch of a new national innovation voucher scheme.

The scheme – managed by the UK’s innovation agency, the Technology Strategy Board, enables start-up, micro, small and medium-sized businesses to access up to £5,000 worth of advice and expertise from universities, research organisations or other private sector knowledge suppliers.

The second round of funding will be available from end November/early December 2012 to 23 January 2013 for businesses that are working on ideas relevant to the agrifood, built environment, waste, water and energy sectors. Projects should represent areas that are a real challenge to the business.

If you would like to discuss a potential project for either of these schemes please contact: Kent Innovation and Enterprise on +44 (0)1227 827376 or get in touch using our Contact form for more information.

The Technology Strategy Board (TSB) is a business-led, government-funded organisation. A competitive scheme, it provides government departments or other public bodies with innovative solutions to specific problems.

TSB issues regular funding calls for collaborative R&D projects in areas of strategic importance to the UK economy, from Advanced Materials to Healthcare to Sustainability (see the full TSB focus areas grid here). In most cases, funding calls offer 50% of project costs (including academic fees). And new technology development is not the only type of project - proposals are welcomed by TSB around user behaviour and developing new supply chains, for example.

The TSB also operate the Small Business Research Initiative (SBRI). A competitive scheme, it provides government departments or other public bodies with innovative solutions to specific problems. Working with the University of Kent, our academic expertise and facilities, SMEs can develop products and services to meet these requirements.

We have a track record of participating in successful bids to the TSB, with projects ranging from improving network security and pig genetics through to evaluating building energy efficiency. Get in touch to find out more.

Smart is a funding scheme available to pre-start-ups, start-ups, plus small and medium-sized businesses. Grants are available for Proof of Market, Proof of Concept and the Development of Prototypes.

The University of Kent can offer the academic expertise and facilities to help your business submit a successful funding bid. Get in touch to find out more.

While the bulk of Research Council funding is directed at University research, there is increasing emphasis on funding knowledge transfer and exchange activity.

This can take many forms, from disseminating University research results to a wider audience to commercialising innovative ideas and even placing a PhD student with a company.

Get in touch to find out more.