Smart

The SMART Scheme

The scheme provides financial assistance 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.

SMART funding is available to single companies. Any UK SME active in any sector may apply; applications are accepted on a rolling basis for assessment by independent experts.

Three types of grant are available:

Proof of Market Grant

Enables SMEs to assess the commercial viability of a project.
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 Grant

Enables SMEs to explore the technical feasibility and commercial potential of a new technology, product or process, including pre-clinical research studies.
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 Grant

Used by SMEs to develop a technologically innovative product, service or industrial process.
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.

Download our Smart factsheet: 1st January 2014/ Download

More info on Smart?

Would you like some more info on Smart? Then contact one of our expert consultants on 0161 488 3488.