Posted on 24/11/2021

Innovation Vouchers – £5,000 funding for collaborative university projects

This Innovation Voucher scheme is available to SMEs in Greater Manchester.

SMEs in the Greater Manchester region can apply for up to £5,000 matched funding to facilitate a collaborative project with a university or a recognised research organisation.

The Innovation Voucher scheme, delivered via GC Business Growth Hub, and part-funded by the European Regional Development Fund, offers financial support in the form of a grant to help businesses access expertise, research and specialist facilities from local universities to develop innovative products and services. The funding can be used towards a range of activities, including:

  • Access to facilities and equipment
  • Product design
  • Research and development
  • Knowledge transfer
  • Consultancy

To be eligible to apply, you must be an SME (i.e. fewer than 250 employees and turnover under €50 million) and be based within the Greater Manchester region.

Businesses which are successful in their applications will be assigned a Business Growth Hub innovation advisor to support the project and help them engage with a suitable university or research organisation.

As the funding is ‘matched’, successful applicants must match the value of the Innovation Voucher with a £1 contribution for every £1 received. For example, businesses applying for the maximum voucher of £5,000 will be required to contribute £5,000. The minimum contribution from businesses is £3,000.

To apply for the funding, please click here and complete the application form. For further advice on Innovation Vouchers and other types of funding and support available to businesses in Greater Manchester, please contact GC Business Growth Hub.

If your business is not based in Greater Manchester, other Innovation Voucher funding schemes operate around the UK. We have identified schemes in the following regions, however this is not an exhaustive list, and we would recommend searching online and enquiring with your local universities to see if funding is available in your region.

Alternatively, please contact us and we can help provide further advice.

Wilson Gunn