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Great News For SME’s: Innovation Funding of £19M Announced

New Funding To Develop Innovative Ideas

Just in time for Christmas, Innovate UK has launched an innovation funding competition to support small and medium-sized firms to develop new and innovative ideas.

To compete for a share of the £19 million fund, projects must demonstrate significant innovation that will lead to new products, processes or services in any sector.

The Rules…

Projects must last from six months to three years and have total eligible costs of between £25,000 and £1 million. The deadline for applications is 28 February 2018.

Why Apply For Innovation Funding?

We’ve talked about the importance of innovation many times. To survive and thrive, it is vital to stay ahead of the curve – and the competition. Whilst change can be scary, companies almost always benefit financially from the successful launch of a new product, brand or service.

And once innovation is placed at the heart of a business, it permeates into a company culture and creates an entire organisation of innovative thinkers. This staves off inertia and virtually future-proofs against failure.

Need Some Help Submitting Your Application?

For us, innovation means the pursuit of opportunity. It means identifying ways in which a business can find new revenue streams or service new audiences.  It doesn’t always have to be a physical product, or even especially technical — sometimes it’s as simple as just finding a different way of working.

Our aim, like Innovate UK’s, is to make innovation accessible to everyone, not just companies with huge R&D budgets.

BEAF’s bid writer has successfully secured millions of pounds of innovation funding. If you are thinking of submitting an application, but you’re not sure where to start, then get in touch.

For further information and to apply, click here.