In the last budget in March, a new Research and Development Grant was introduced, to be administered by the Technology Strategy Board, providing up to £25,000 of funding for business in 3 areas:

1. Proof of market grants of up to £25,000 for companies to assess commercial viability;
2. Proof of concept grants up to £100,000 – to explore technical
feasibility / prototyping / specialist testing; and
3. Development of prototype grants of up to £250,000 – developmnent of a technological innovative product, service or industrial process, including IP protection, market testing and product design.