Grants From The Government For Research And Development

Are you planning to research into or develop new products and services in the science, engineering or technology sector? Research and development grants can help fund your all-important project and minimise your expenses. Grants from the government are available, as well as from the European Union.

There are three main types of grant available for small and medium sized businesses who wish to explore research and development opportunities. The type of grant that you qualify and apply for will be determined by the type of project you are going to complete.

One type of grant, the proof of market grant, exists to help fund market research, analysis of competitors, research into the planning costs of taking a product into the marketplace as well as help with intellectual property issues. You could qualify for this grant and pay for up to 60% of your project costs as long as the project is scheduled to last nine months or less.

The proof of concept grant helps to cover the cost of creating prototypes, testing products, feasibility studies and analysing production techniques. To qualify, the project has to last less than 18 months and the grant award needs to be less than 60% of the total cost of the project.

The grant for the development of prototypes can be used to test the product (including market testing trials) and for the creation of demonstration models. To qualify, the project must take less than 2 years, plus the grant amount requested must fall below 35% of the project's total cost for medium businesses and 45% for small businesses.

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