Mon, 29 April, 2024
TWI is currently seeking to connect with ambitious, UK-based SMEs who feel they would benefit from fully funded, 1-2-1 support from TWI, to help overcome blockers and drive forward their innovation activities.
Made possible by the UK Government’s Innovate UK Business Growth scheme, eligible companies can benefit from the facilities and expertise provided by approved research and technology organisations (RTOs) – one of which is TWI – in the form of support, up to a total value of £15,000.
SMEs who qualify for Innovate UK Business Growth funding can draw on a combination of technical, business and innovation support from TWI spanning, but not limited to:
- Technical – new product development and manufacture of demonstration items, access to in-depth, sector-specific knowledge and expertise relevant to the business, novel manufacturing techniques to improve efficiency
- Business – market analysis, cost modelling, operational sustainability, creation of industry-relevant research and development (R&D) project plans
- Innovation – ideas development, building and implementing an innovation strategy, managing technology, strategic intelligence and IP
To be eligible for the Innovate UK Business Growth fund you must be a UK-registered company with 250 employees or less, have received under £315,000 in financial assistance in a rolling 3-year period and have high growth potential. If you fit this criteria and believe that TWI can help your company grow, we will ask you to complete a simple application form capturing your company details and sector. The completed form will be used check your eligibility for the scheme, and if you subsequently qualify, we will introduce you to the Innovate UK Business Growth representative for your business.
Dr James H Kern, Senior Project Leader, Technology Transfer at TWI, who is one of the team helping SMEs to take advantage of the Innovate UK Business Growth funding, said “Last year alone, TWI helped 16 companies through the programme, addressing a wide range of requirements from patent searches through to fire detectors and water filters. As an SME owner/manager, you may not be aware of the huge range of capabilities and technical/industrial know-how that TWI has to offer to forward looking companies. Therefore, participating in the scheme is a way to access the most suitable support to accelerate your business’ growth.”
Adding “Projects undertaken through Innovate UK Business Growth should be completed within three months of the funding being agreed. Funds are earmarked, so the SME only needs to show Innovate UK Business Growth proof of purchase, up to the agreed value, to claim back 100% of the money.
To find out more about Innovate UK Business Growth and/or discuss how your business could benefit, simply send an email to james.kern@twi.co.uk and/or dyllan.phipps@twi.co.uk, and they will be in touch.