£2m worth of SME grants available for innovation projects

Posted on 30 Aug 2012

The Technology Strategy Board (TSB), which is funded by government, has made £2m available to stimulate innovation by small and micro businesses.

The Technology Strategy Board, which is spending £350m this year on technology-boosting projects across the UK, is to award funding to support feasibility studies and is seeking applications for projects across the whole manufacturing lifecycle, from design and engineering through to re-manufacture and innovation in the supply chain.

The competition is only open to small and micro companies only (those with no more than 50 employees), with grants of up to £25,000 available. The grant will make up 75% of the project cost, which can last for up to four months.

It is hoped that the funding will develop manufacturing competences (method, equipment and expertise) that can then be applied throughout the given sector and in further applications.

The competition opens on 24 September 2012. For further information please visit: Manufacturing Competences