Smart (previously known as Grant for Research and Development) is a Technology Strategy Board scheme offering funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.
The Smart scheme will support R&D projects which offer potentially significant rewards and could stimulate UK economic growth. Smart funding is available to single companies.
Three types of grant are available:
Proof of market – Projects will last up to 9 months, have a maximum grant of £25k, and up to 60% of total project costs may be funded.
Proof of concept – Projects will last up to 18 months, have a maximum grant of £100k, and up to 60% of total project costs may be funded.
Development of prototype – Projects will last up to 2 years and have a maximum grant of £250k; up to 35% of total project costs for medium enterprises, or up to 45% for small and micro enterprises, may be funded.
The scheme will be a rolling call with batch assessment deadlines approximately every two months.
More details of the scheme can be found on the TSB website here. For more information on how the Polymer Centre can help with finding research collaboration partners and writing grant applications, please contact us.