Grant for Investigating an Innovative Idea

What is it?

Businesses that have an idea to develop an innovative project, process or service, but are not sure whether they are ready to take it forward successfully, may be able to receive help under a Grant for Investigating an Innovative Idea.

The grant will reimburse some of the costs of consultants chosen to provide expert advice on identified “barriers” to the successful implementation of the business’ innovative idea. The project outcome is an action plan.

Who can apply?

SMEs operating in England, or individuals seeking to start a business in England, are eligible to apply for an Investigating an Innovative Idea grant.

We use the European Commission’s SME definition as the basic eligibility criteria. This definition includes worldwide ‘group’ associations, so if a business is part of a group, the group will also need to qualify as an SME for the applicant business to be eligible.

How much does the company pay?

The grant product operates on a reimbursement basis and successful applicants are therefore required to pay the mentor all other consultancy costs on satisfactory completion of the project before seeking payment of grant from the SBS.

The grant we will pay will be 75% of all mentor and consultancy costs (up to a maximum of £12,000) on receipt of a fully documented claim.

When can you apply?

Some businesses may wish to reapply after having undertaken a previous Investigating an Innovative Idea project. These businesses will need to explain what the results are from their earlier project and why they need support again. Part of the rationale behind the grant is to improve a business’ capability to innovate. Businesses that have worked on a previous project should be more innovation capable and would, perhaps, have learnt how to undertake this type of project themselves. We would especially seek reasons from an applicant if an area of work from an earlier project is repeated in a later application.

Further details

Small Business Service
Kingsgate House
66-74 Victoria Street
London
SW1E 6SW

Tel: 0845 001 0031

Email: gatewayenquiries@sbs.gsi.gov.uk

• www.dti.gov.uk/innovative-idea/