Innovation Vouchers are available across the Technology Readiness Level (TRL) spectrum, providing a means for SMEs interested in innovation to explore ideas & concepts, develop supply chain collaboration and access specialist innovation facilities. Examples of their usage could include engaging Innovation Centres to research challenges within and across supply chains leading to concept development, explore cross-sectoral excellence in practice and collaborative innovation opportunities, access facilities to provide technical verification at early stage feasibility, prototype development or scale up to manufacture phase. This will allow SMEs to access academic skills and expertise through collaborations with research institutions, public institutions or large enterprises in order to help SMEs bring new products and processes to market.
Barriers to address: lack of awareness of the benefits of investing in innovation, its cost and uncertainty about the value that will accrue to the company, including lack of access to finance.
Covers financial support to:
• Access to specialist testing equipment or machinery
• Market research
• Data testing and analysis for new product development
• Product, process or service design
• Intellectual property; and
• Market exploitation
Support will be limited to Tees Valley based SMEs only, and is specifically designed for businesses ineligible for or unsuccessful in accessing national funding from Innovate UK.
If you're interested in the NEW Tees Valley Business Fund - Innovation Vouchers please register your interest by completing our form and one of our Growth Consultants will be in contact with you to discuss this further.
This programme is part-funded by the European Regional Development Funds.