How to make R&D grant funding work for your organisation
Venturenomix is working with SMEs, corporates, universities, social enterprises, NGOs and public bodies to define innovation projects, identify R&D grant funding opportunities, develop grant applications to EU and UK funders and project manage the live grant project.
What is R&D grant funding?
R&D grant funding is:
- Non-repayable and non-dilutive: There is no debt or equity involved in R&D grant funding.
- Flexible: There are R&D grants for fundamental research, deep-tech, startups, spin-outs, University research departments, scaleups, mid-caps, large businesses, social enterprises, cities, charities, NGOs and more.
- Focused or Collaborative: R&D grant funding can be accessed by single businesses or as part of a consortium of partners.
- Targeted: R&D grant funding supports the research, development, testing and implementation of innovative products, processes and services.
- Generous: Successful applicants to R&D grant funds can access up to 100% funding rates to cover costs including staff, overheads, materials, capital, subcontractors, travel, expert advice, networking, conferences, and more.
- Tailored: There are R&D grants designed for all of the most pressing global challenges, including technical, social, environmental and economic themes.
What are the benefits of an R&D grant funding strategy?
We are often engaged on a project-by-project basis – writing a single grant application for a specific R&D grant – Increasingly, however, we are working on a retained, long-term basis with our clients. This brings some benefits:
- Strategy: Integrating R&D grant funding into the overall funding strategy means our clients can free up R&D budgets, pay less in loan finance and retain more equity.
- Leverage: Content developed for one R&D grant application can be re-purposed and re-used in other applications, cutting down on the time and effort needed to submit further proposals.
- Agility: Ability to respond strategically and quickly to new calls from R&D grant funders based on a strong understanding of priorities, established partnerships and existing content.
- Seamless: As R&D projects enter their final months of funding, further R&D grants can be applied for and secured to fund follow-on projects.
- Communication: Keeping key stakeholders (internal and external) informed and up to date on submissions, decisions, live projects and new opportunities.
- Partnerships: Can establish partnerships with business, academia, public bodies and advisors – all of whom can be funded as a consortium in collaborative R&D grant projects.
What are the elements of an R&D grant funding strategy?
We are working with clients to develop:
- Projects: Defining the overall objectives and specific R&D projects in short (1-2 page) summaries, including approximate budgets, partners and desired outcomes.
- Opportunities: Regular scanning of the new and forthcoming R&D grants in Europe and the UK that are a potential fit for the planned or potential R&D projects.
- Content: Repository of valuable content for R&D grant applications, for example, team profiles, market research, competitor analysis, state-of-the-art definitions, commercial strategy, financial forecasts and more.
- Applications: High-quality applications to the agreed R&D grant calls, including building the consortiums (of partners) to maximise the chance of success.
- Management: Ensuring smooth progress through initial due diligence (upon award of funding) and compliance with funder reporting requirements during live projects.
How can we help?
If you are managing European R&D projects for a university or leading an R&D team for an ambitious business and would like to make R&D grants a more integrated part of your funding strategy, we are able to help.
Contact us and we can set up an initial call to understand where you are and where you want to be in 12 months.
ABOUT THE AUTHOR
Alex has over 15 years of experience in founding and running businesses, the most recent company having raised over £50m in funding for businesses based across the globe. He has a thorough knowledge of business funding options and can draw on many successful consultancy engagements to bring impetus to venturing. Alex has now set his focus on working with entrepreneurial teams looking to make a positive impact on the climate crisis and the broader UN Sustainable Development Goals.