We’re able to offer 40% of the value of your project, and the maximum project value is £50,000, therefore a £20,000 grant. Project values must range between £5,000 and £50,000.
An SME a is small or medium sized enterprise. As defined by the EU funders, ERDF, it is also a business with fewer than 250 employees, and a turnover of less than €50 million, or a balance sheet total of less than €43 million.
Innovative projects – your business must be able to demonstrate that you have an innovative idea, that is new to your business or to the market. It can be used for the development of products, processes and services within most sectors. New technology is often the core of the project, however, existing technology may be utilised in an inventive and pioneering way.
Our Advisers will guide you through the process, a Contract will be drawn up. After you have paid your supplier the agreed sum, you can then claim back 40% of the net costs.
The easiest way to differentiate between the two roles is that a specialist is a mentor and has the responsibility to impart knowledge, expertise and guidance to help a company to shape and learn from their innovation (e.g. an innovation coach).
Whereas a supplier is a ‘doing’ role, they offer a broad range of services that will enable the company to implement their idea (e.g. engineering, design or software development).