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Smart Grants - What are the success rates?

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Success Rates

Smart Grants success rates revealed

Myriad Associates has obtained some very exclusive and highly valuable information about Smart Grants. Innovate UK has shared with Myriad data about the latest Smart Grant funding rounds. This information includes success rates, average application scores and more importantly the average scores of winning applications. The level of detail that Myriad has obtained is significant as the data is broken down into each grant category. In addition data by industry sector has been obtained.

Innovate UK receive on average 400 Smart Grant applications per funding round with the percentage of funded applications ranging from 11% to 38%, dependent on grant category.

The average score of successful Smart Grant applications is also high, which reflects the competitiveness and quality of the applications received by Innovate UK. The data shows that an average score in excess of 80% is required to even stand a chance of being awarded Smart Grant funding.

It is important to highlight that the number of successful grant applications isn’t necessarily the number of R&D projects funded. This is because a number of grants awarded do not progress beyond the offer stage due to match funding requirements.

The industry statistics show that the majority of applications came from the Energy, Healthcare, Industrials, Software and IT, Technology Equipment and Materials sectors.

Smart Grants

What are Smart Grants?

Innovate UK’s Smart Grant Scheme offers match funding to UK companies across all industries to carry out R&D projects within the areas of science, engineering and technology.

There are three types of Smart Grant available:

  • Proof of Market
  • Proof of Concept
  • Development of Prototype

Smart Grants are “always open” and available to all companies in all industries.

More information about each of the Smart Grant types is available on our R&D Grants page.

The Myriad Approach

How to make an award winning Smart Grant application

An award-winning Smart Grant application must describe the commercial, technological and financial benefits of your R&D project. Smart Grant funding is extremely competitive, with only the highest quality applications standing any chance of success.

By engaging Myriad Associates’s grant writing services, you can be certain of gaining a significant competitive advantage over other grant applicants.

By profiting from the Myriad team’s specialist technical, financial, industry and grant writing experience, you can be sure of maximising your Smart Grant application’s chances of success.

By trusting Myriad to manage and write your Smart Grant application, your time throughout the process is minimised, thus allowing you to concentrate on your business.

We identify all your R&D activities

We capture all your R&D expenditure

We write your R&D technical reports

We submit your R&D Tax Relief claim

We work with HMRC to agree your R&D claim

With just two to three hours of your time we'll take care of your claim from start to finish

Project Assessment - Myriad’s in-house specialists will meet with you to obtain all the relevant technical, commercial and financial data relating to your R&D project. We will also assess you chances of success.

Grant Writing - Myriad will research, prepare and write an award winning R&D grant application for your review and approval.

Submission and Feedback - Myriad will complete the on-line registration process and submit the web-based application. Assessor feedback is provided for both successful and unsuccessful grant applications. Myriad will review this and give you on-going advice and guidance.

Compliance and Monitoring - Once approved, we’ll help you comply with all requests from the grant body’s monitoring officers.

Get in touch

Please contact us to discuss how working with Myriad Associates can maximise and secure R&D funding opportunities for your business.

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