Innovation vouchers are back!
We are pleased to announce that the Technology Strategy Board have launched a new competition to fund Innovation Vouchers as a means to enable SMEs to engage with new partners to access knowledge which could help their business innovate and grow.
Funding is available for £5,000 vouchers in the area of Agri-food and Built Environment. It is expected that around 400 awards will be available in the first round of this competition that opens on 24th September, and the deadline for applications is 24th October 2012. An Innovation Voucher provides funding so that the business can work with an external expert for the first time, gaining new knowledge to help the business innovate, develop and grow.
Key information
- Available for start-up, micro, small and medium-sized business (as defined by the EC) located anywhere in the UK
- The idea should be applicable to one of the priority sectors: Agrifood, Built Environment and Space
- Up to £5,000 for the SME to obtain the help of an external expert to develop ideas and improve performance (up to £8k for Space)
- Issued every 3 months by a draw from eligible entries
How to apply
The application process is online. The SME can apply any time, with around 100 vouchers being issued once every three months (with around 400 being issued in the first round opening in September 2012). Applications for Innovation Vouchers will be entered into a draw every three months. If unsuccessful in receiving an Innovation Voucher you can try again. You can only have one live application at a time.
Batch allocation dates
The allocation dates for Innovation Vouchers are:
- 24th October 2012
- 23rd January 2013
- 10th April 2013
- 24th July 2013
- 23rd October 2013
What kinds of ideas can be funded?
TSB are interested in any innovative approach to the specific challenge identified.
TSB can support all types of innovation – for example ideas for new or improved products, processes and services, using design to improve ideas or managing intellectual property. The key issue to be clear on is that this should represent a real challenge for the business, not just a small improvement or change to current practice.
Innovation Vouchers are there to help you obtain expert advice from a type of knowledge provider you haven’t worked with before, not to help you buy equipment or training for your business.
Read more about the Innovation Vouchers