New Grant for Research and Development scheme launches

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28/03/2011

A new Grant for Research and Development (GRD) scheme is being introduced to offer funding to small companies, enabling them to research and develop new products, processes and services.

Managed by the Technology Strategy Board, the scheme, which comes into effect from 4th April 2011, will support small and medium-sized companies (SMEs) across the UK.

The new initiative supersedes the former GRD programme which was managed by England’s Regional Development Agencies and will have similar objectives. Under the scheme, the maximum funding available will be £25,000 for proof-of-market grants, £100,000 for proof-of-concept grants and £250,000 for development of prototype grants.

In the East Midlands, since 2005, the previous GRD programme was managed by East Midlands Development Agency (emda) and part-funded by the European Regional Development Fund (ERDF). From that time, the Agency awarded grants to 203 regional businesses, totalling just over £18.5 million. The awards were made to companies in a range of sectors, including bioscience, construction, transport equipment and food & drink.

An independent report into the GRD programme run byemdaalso found that it was one of the most effective in the UK, with a return on investment of almost £10 for every £1 spent.

Speaking about the impact that GRD has had on businesses in the East Midlands, John O’Reilly,emda’s Business Support Director, said: “The Grant for Research and Development has proven to be extremely successful in helping businesses in the East Midlands develop new products and processes to give them a competitive edge in the global marketplace. Independent research has shown that businesses in our region are the best in the country at transforming their ideas into successful and profitable innovations.”

The Technology Strategy Board’s Chief Executive, Iain Gray, said: “Innovative small companies are vital to the UK’s economic future. Nearly two-thirds of all commercial innovations originate in small companies and we need to nurture and encourage this vital source of exciting new innovations.

“Small companies may under-invest in innovation because of the high degree of risk and uncertainty around both the development and commercial exploitation of new ideas. Offering partial funding through this initiative should help many innovative small businesses to overcome this barrier and to invest in innovation, helping to generate future business success.”

Further information about the Grant for Research and Development scheme will be available on the Technology Strategy Board website, www.innovateuk.org from 4th April 2011.

ENDS

For more information about this press release, please contact Nick King at East Midlands Development Agency (emda) on 0115 988 8375 or emailnickking@emd.org.uk

Notes to Editors:

Aboutemda

East Midlands Development Agency (emda)is one of nine Regional Development Agencies in England, set up in 1999 to bring a regional focus to economic development. Independent evaluation shows thatemdahas:
• Had a significant impact on the region’s economy
• Generated economic benefits that substantially outweigh its overall costs
• Put back over £9 of economic output (or GVA) into the regional economy for every £1 it spends
• Produced more than £1 billion in economic benefits per year
• A wider impact on people, places and businesses in the East Midlands that cannot be captured by figures alone.

The Coalition Government announced in June 2010 that RDAs will cease to exist beyond March 2012 and that economic development and regeneration will be led by Local Enterprise Partnerships (LEPs), where locally-elected leaders will work with businesses. emda is working closely with Government and partners in the region to manage the transition of its responsibilities and ensure that business has a voice in new arrangements as they develop.

During this transition period, our main task remains to support economic recovery and future growth in the East Midlands.

For more details about the work of emda, visitwww.emda.org.uk

About the Technology Strategy Board

1. The Technology Strategy Board is a business-led government body which works to create economic growth by ensuring that the UK is a global leader in innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit: Technology Strategy Board website
2. Companies and other organisations seeking information about Technology Strategy Board funding competitions and opportunities should visit the Competitions page of the Technology Strategy Board website – Competitions page , email competitions@tsb.gov.uk, or phone the Competitions Helpline at 0300 321 4357
3. Media enquiries only should be addressed to the Technology Strategy Board’s media relations consultant or manager: Nick Sheppard, Media Relations Consultant - Mobile: 07824 599644, Email: nick.sheppard@tsb.gov.uk or Claire Cunningham, Media Relations Manager - Tel: 01793 442901, Mobile: 07554 115745 Email:claire.cunningham@tsb.gov.uk

4. To see all press releases from the Technology Strategy Board please visit: Press Releases
5. To subscribe to the Technology Strategy Board’s RSS newsfeed please visit: RSS newsfeed

About the Grant for Research and Development

The new Grant for Research and Development scheme run by the Technology Strategy Board will offer businesses three types of grant:
- Proof-of-market grants will enable companies to assess commercial viability through, for example, market research, market testing and initial planning;
- Proof-of-concept grants will help companies to explore the technical feasibility and commercial potential of a new technology, product or process through, for example, a feasibility study, basic prototyping and specialist testing;
- Development of prototype grants will be used by companies to develop a technologically innovative product, service or industrial process. This might include small demonstrators, intellectual property protection, market testing and product design.

About the European Regional Development Fund (ERDF) nationally

The ERDF Programme aims to strengthen economic and social cohesion in the European Union by supporting regional economic development. The ERDF objectives for England are:
- Promoting innovation and knowledge transfer
- Stimulating enterprise and supporting successful business
- Ensuring sustainable development, production and consumption
- Building sustainable communities
- Improving accessibility and connectivity (for Cornwall and the Isles of Scilly only – as part of their Convergence Programme).

A Programme Monitoring Committee consisting of regional stakeholders such as Government Offices, RDAs, Regional Assemblies, Local Authorities, Sub-regional Partnerships, Higher Education Institutions, Trade Unions, and the private and voluntary sectors will monitor and oversee programme implementation in each region. For more information on ERDF funding generally, please visit www.communities.gov.uk/citiesandregions/european orhttp://ec.europa.eu/regional_policy/funds/feder/index_en.htm

About ERDF in the East Midlands

The East Midlands is eligible for €268.5m (approximately £236m at current exchange rates) between 2007 and 2013, which when combined with match funding, provides a programme value of approximately £472m – a significant investment in the economic development of the region. The East Midlands qualifies as a competitiveness and employment region under the EU’s Cohesion Policy, which aims to meet the EU Lisbon objective to become ‘the most competitive and dynamic knowledge based economy in the world, capable of sustainable economic growth with more and better jobs and greater social inclusion.’
East Midlands Development Agency (emda) is responsible for the programme management and delivery of the region’s 2007-13 ERDF Competitiveness Programme. The responsibility for ERDF programme management was transferred from the Government Office for the East Midlands (GOEM) to emda following a decision by the UK Government to seek greater alignment between ERDF and regional strategies and funding streams. The 2007-13 ERDF Programme is therefore set firmly within the framework of the Regional Economic Strategy.
A Programme Monitoring Committee, chaired by the Regional Director of Government Office for the East Midlands (GOEM), guides the strategic direction of the programme and works closely with emda. To find out more about ERDF, the region’s strategy for delivering the funds, how to apply for funding and how the programme is managed, please visit www.eastmidlandserdf.org.uk

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