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Grants for technology businesses

Mar 14 2003

There are millions of pounds in funding available for technology and communications companies in the UK from funding providers such as the Government and the European Union.

UPDATE:
April 2011 - Getting a technology grant.

Government grants

There are a number of specific initiatives such as the SMART (Small Firms Merit Award for Research and Technology) Awards, which are grants from the DTI to help individuals and small businesses in the UK to develop innovative new products and processes. You will have to compete for the grant along with other applicants.

“The SMART award is available for technology companies but they do have to have real innovation that moves thinking forward on a particular subject,” says Nigel Lander, an adviser for Business Link.

SMART awards are given for different types of projects such as the pre-production prototype stage of a new product or process, and project costs are awarded up to a maximum of £450,000.

The R&D tax credit, introduced in 2000, is to help small- and medium-sized companies undertake research and development (R&D), either for the first time or to encourage them to do even more. It is not available to individuals or partnerships.

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