Bright Ideas Scheme

What is it?

The Bright Ideas Scheme is a business support scheme run by Reco International Ltd, a Rotherham based consultancy firm, to assist in the spin-out of new technology. Reco provides independent business support and mentoring, specialising in bioscience, engineering sciences and innovative technologies.

Grant support to the Bright Ideas Scheme is part-funded by the European Commission through Objective 1 and Business Link South Yorkshire.

The scheme is aimed at existing companies that wish to spin-out new technologies, be that in the form of a new spin-out company or as transfer of technology that will enable commercial exploitation in a new product/service, that will help businesses address new market opportunities. The support is aimed at the “proof of concept” and “proof of business” stage, with funds available for matters such as patent expenditure, building prototypes or carrying out field trials.

Who can apply?

The scheme is open to all companies located in South Yorkshire, or companies outside of the region that can demonstrate that the support will be used to benefit the South Yorkshire region.

How much does the company pay?

The Bright Ideas Scheme offers up to 100% support to companies, with a maximum of £5,000 available for mentoring and advisory support, and up to an additional £15,000 that can be put towards matters such as protection through patents, tooling-up for samples, or undertaking test and marketing evaluation.

Further information

Contact David Bowser at Reco International Ltd
Tel: 01709 513 551
E-mail: d.bowser@recointernational.com
Website: www.recointernational.com