Smart Concept Fund
Grant funding scheme to support the commercialisation of new technologies
The Smart Concept Fund, part funded by the European Regional Development Fund (ERDF) offers a Proof of Concept (PoC) grant designed to support the commercialisation of new technologies.
Successful applications will be awarded a grant of up to £30,000 at a rate of up to 60% to help fund an approved product development project, subject to eligibility conditions. Grants are available to SME’s based within the Black Country, Marches and Stoke-on-Trent & Staffordshire LEP areas.
The aim of the Smart Concept Fund is to support companies to carry out a programme of development work. Third-party suppliers are contracted to provide expert services including design modelling, product testing, engineering analysis, prototyping and preparation of intellectual property agreements.
The project is targeted towards businesses that operate in sectors including:
(List is not exclusive)
- transport technologies (including aerospace and automotive)
- building technologies/ construction
- advanced manufacturing and advanced engineering
- environmental technologies
- applied materials
- agri-tech/ agriculture, food and drink
- medical technology
- energy generation
- defence and securities.
To be eligible for support your business must:
- Be based within one of the three sponsoring LEP areas
- qualify as an SME (in summary, have fewer than 250 employees, a turnover of less than €50 million per annum and be independently owned.
The programme is now open to applications with closure expected late 2019.
For more information: Smart Concept Fund Brochure (PDF 352K, Downloads file)