What Are R&D Grants?
R&D Grants can offer your company a great source of funding to assist with your research and development.
Discover how RDTaxCredit.org.uk can assist with R&D grant applications to ensure you get the best funding possible, quickly and efficiently.
Applying for R&D Grants is extremely competitive. To ensure your application has the best chance of securing funding it must reach the highest of quality standards ensuring all boxes are ticked.
There are many sources of grants available. Thats why we have have put together an R&D grant directory. The directory also contains general business grants and its a valuable resource for UK businesses.
Before you apply for any of the R&D grants available, your application MUST describe the technological benefits to the public and your industry. Projects that are deemed risky for private funding often get looked at more favourably.
What Makes An R&D Grant Successful?
Clearly and thoroughly articulates the business opportunity of the project – the project’s resulting products, processes, or services should have a growth impact for your business and lead to a significant return on investment (ROI).
Explains why your business is more likely to succeed with this innovation than a competitor would.
Demonstrates a clear understanding of the target markets, including potentially competing products and your concept for commercialisation.
Shows why your proposed product, process, or service is a radically new application that produces a step change impact.
Who Evaluates the R&D Grant Application?
Applications for R&D grants are usually examined by independent experts in the area of innovation identified in the application. The number of experts scoring the application depend on the grant awarding body.
How long does it take to receive a decision?
R&D grants have an awarding body and their own timelines for providing feedback and a decision on funding.
What Happens After the R&D Grant is Approved?
If your application is successful, you will need to provide the information required by the grant awarding body, which may include further documentation and financial checks. Depending on the awarding body, you may be assigned a monitoring officer.
Funding is generally paid in arrears, once the required audits and reports are complete. Each grant awarding body has its own payment rules.
How RDTaxCredit.org.uk Can Help
RDTaxCredit.org.uk have an enviable track record with R&D grant applications. Using our grant application services can give you a significant competitive advantage over other grant applicants.
The R&D grant Application Process