TSB begins round of SME R&D funding

Small technology businesses are being invited to apply for government funding for research and development.

The Technology Strategy Board (TSB), a non-departmental government body, opened the competition for R&D grants to science, engineering, and technology SMEs on Monday.

Funding is open to any SME working in any sector, according to TSB guidance.

Proof-of-market funding has a maximum grant of £25,000, proof-of-concept has £100,000, and development of prototype has maximum grant of £250,000. In each case, successful grant applicants must pay a percentage of the R&D costs.