Developing a new product, service or process can be costly, time consuming and risky. With a 70% success rate, Myriad Associates can help you finance your innovative project by securing R&D grant money from the government, that you don’t need to pay back.
Either work through the following six short sections to learn how to secure R&D grant funding for your innovative projects, or click on the relevant link below.
R&D grants are lump sums of money given to UK companies by the government to fund the research and development of innovative products, services and processes.
If you’re conducting research and development to try and resolve a technical uncertainty, you could be eligible for R&D grant funding.
To be successful, your application must describe, in detail, the new commercial opportunity you’ve found, how you plan to exploit it, and how it will transform the market.
Applying for an R&D grant is competitive and time-consuming. For your application to win, you must:
Find out more via the FAQ's below
There are three government-run R&D grant schemes, each with its own focus, criteria and funding limits:
Innovate UK: Runs open and sector-specific R&D funding competitions where you can win anything from £25k to £10m in funding. Visit our Innovate UK page.
Horizon Europe: Has a pot of €95.5 billion to support innovative projects that fuel the EU’s scientific, technological and sustainability excellence. Visit our Horizon Europe page.
EUREKA Eurostars: Offers UK SMEs, that work with European partners, up to 60% of their eligible R&D expenses. Visit our EUREKA Eurostars page.
“Myriad Associates has been instrumental in helping us secure grant funding for our ground-breaking projects. They went to great lengths to understand the intricate details of our project and were able to produce successful arguments in favour of grant funding for our innovative projects.”
CEO at Arden Biotech
Myriad Associates 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.
Our grant bid writers have secured over €130m for our clients in the last 12 months, with another €30m due by the end of 2022. We are also very proud to have secured some of the highest scoring applications in Europe, with five of our projects scoring 15/15.About Myriad Associates
Applying for a research and development grant requires a huge time commitment.
Myriad Associates would recommend that you follow the below process if you plan to submit your own application for R&D funding:
Your grant application is more likely to be successful if it:
Each R&D grant scheme has its own timeline for providing feedback and a decision on funding. It could take a few weeks, or it could be several months.
If your application is successful, you’ll need to provide the information required by the R&D grant-awarding body, which may include further documentation and financial checks.
Funding is generally paid in arrears, once the required audits and reports are complete. Each grant-awarding body has its own payment rules.
Grants often fund activities that support the research and development of an innovative product, service or process, such as:
Yes. You can receive R&D grant funding and also claim R&D tax credits for the same project. However, to get the maximum amount of R&D tax relief, there are several complex stipulations that you must understand before you progress with your R&D tax claim and R&D grant application.
R&D grant and tax relief specialists like Myriad Associates can advise you on how to get the maximum amount of R&D tax credits and R&D grant funding for your innovative projects. Contact us now for help, support and guidance.
Grant applications 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.
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Is your business registered for Corporation Tax in the UK or are you a partnership with corporate owners?
Have you developed new or improved existing products, processes or services in the last 2 accounting periods?
Does your business have fewer than 500 staff, and either: A turnover of no more than €100 million; or Gross assets of no more than €86 million?
Sorry, you must be a UK limited company or be a Partnership with corporate owners to be eligible for R&D tax credits.
In order to qualify for R&D tax credits you must be seeking to advance science or technology within your industry. As you’ve not developed any new or improved any existing innovative tools, products or services, and not re-developed any existing products, processes or services in the last 2 years. It is unlikely you have any qualifying activity. If you’re unsure, email or call us and we’ll help clarify.
In order to claim R&D tax credits, you need to either employ staff or spend money on contractors, consumable items and other items. If you’re unsure, email or call us and we’ll help clarify.
Thanks for that!
Congrats!! Based on your previous answers, you will qualify for the SME scheme. If you’d like some help maximising and securing your claim, please email or call us.
Congrats!! Based on your previous answers, you will qualify for the RDEC scheme. If you’d like some help maximising and securing your claim, please email or call us.Speak to an expert Back