Many grants are available from the public and charity sectors, and getting one de-risks the company further from an investor’s perspective, which helps to secure finance at later stages.
The following organisations are exploring for funding opportunities:
Innovate UK fund, support and connect innovative businesses to accelerate sustainable economic growth. Businesses can apply for R&D funding in specific priority areas, as well as non-themed ‘always open’ competitions such as Smart.
The SBRI Healthcare process is built around defined competitions. There are normally two competition rounds per year, with applications invited in the Spring and Autumn. Companies are invited to bid for funding to develop solutions for specific health needs. Nominated AHSNs lead on running the calls and competitions. Bids are assessed by a panel of technical, business and clinical experts and the most promising ideas are selected for funding.
Nesta support a small number of exceptional ideas that meet the aims of the charity, and if they can’t help there are plenty who can. Nesta have three different ways they we can support businesses – through grant funding, direct investment or challenge prizes.