Ashley Evans of the Electronic Technology networks has contacted us to tell us about SMART Grants, and how they might be applicable for UK-based mbed developers. SMART Grants are an EU-funded initiative aimed at supporting SMEs take innovative new designs from the drawing board to commercial success.
Electronics Technology Network are interested in hearing from mbed users who are prototyping proof concepts to be part of a case study to understand how SMART grants can assist in successful delivery of a marketable product.
The grants fall into three main categories; Market Research, Proof of Concept and Prototype development. The ETN are keen for applicants to start with the initial Market Research phase. This has been shown to really help SMEs clarify the vision of how commercial success will be achieved, and applications who complete this stage have a much better chance of securing a grant in subsequent phases.
Having completed a Market Research phase, an mbed user developing a product is most likely to fall into the Proof of Concept category. This allows a development cycle of up to 18 months, and has a maximum grant of £100k, which can make up 60% of total project costs.
For more information on the SMART Grant scheme see the SMART website
Additionally, the ETN are working with third parties to help advise SMEs about R&D tax credits. Recent changes to the tax laws makes it easier to secure tax benefits on innovative R&D expenditure.
For more information, see the R&D Tax Credits page
If you want to get in touch with Ashley to find out more about eligibility, and assistance in the application process please contact firstname.lastname@example.org
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