Opportunity - Innovation Voucher Scheme Follow on Funding New Round Now Open (Scotland)
Posted on 13/10/2017
NEW round of innovation follow-on funding is now open (Scotland only). Take advantage of the opportunity to benefit from a follow-on Innovation Voucher of between £5,000 and £20,000.
The purpose of the Follow-on Innovation Voucher award is to build sustained relationships between small and medium-sized companies (SMEs) from all industry sectors, and universities in Scotland that have previously worked together and jointly received funding. The proposed collaborative project should lead to new products, services and processes that will benefit the company, the university and the Scottish economy.
The value of a Follow-on Innovation Voucher is between £5,000 and £20,000. This covers the academic project costs only and is paid directly to the university. The company must contribute an equal value of the grant requested in cash. The total value of any individual project can therefore be between £10,000 and £40,000.
The funds will be drawn from European Structural and Investment Fund 2014-20 Programmes, Scottish Funding Council, Scottish Enterprise and Highlands and Islands Enterprise depending on the location and sector of the project. This joint working is in line with the Scottish Government’s desire to have greater co-operation between public agencies and to allow efficiencies of resource and business simplification of funding schemes.
Companies that have previously received funding for a collaborative academic project are eligible to apply. This may include standard Innovation Voucher funding or grants/awards from other public agencies (SE/HIE).
Projects can be a continuation of the previous partnership, demonstrating further innovation (ie demonstrating novel/pioneering ideas) and leading to new, or significantly enhanced, products, services or processes that will benefit the company, the academic institution and the Scottish economy. Only projects which cannot be delivered commercially and require the technical expertise of an academic partner are eligible.
Projects can also focus on developing a new collaboration in a new area with a research group drawn from a different department or institution.
The next deadline for receipt of applications is 10 November 2017. For more information and to apply click here.