2kt Innovation fund
Funding of up to £5000 is available to Scottish based SME’s to support collaborative projects with our 2kt academic partners to develop new products, processes or services that will benefit your business.
Awards are neither sector nor technology specific and whilst match funding is required this can be monetary or in kind (e.g. via staff time).
The overarching criteria of the award are that projects have the potential to increase the profitability and turnover of your business and thus benefit the Scottish Economy.
Priority is given to applications that have the potential to attract follow-on funding from other sources and where relevant can demonstrate a clear route to market and indicate a step change in the current processes within the company.
Eligibility
You will be eligible to apply for the 2kt Innovation Fund, if:
- Your company is registered in Scotland;
- Your company is an SME;
- Your supporting academics are based at one of the partner institutions; and
- Your company can demonstrate that the funding will not take them over the ceiling for de minimis aid to an SME. The ceiling is currently 200,000 Euros for all de minimis aid given to any one company over a three-year period.
Application Requirements
In the first instance discuss your potential project with one of 2kt’s Business Development Managers. They will advise and assist you in completing an application.
Submissions must be completed on the designated application form following the guidance notes provided.
In your application form your company must demonstrate:
- The need for academic support
- The requirements of the initial feasibility work
- The potential for follow-on work
- Value for money
- The likelihood of the development of new products, processes or services
- A clear route to market or a clear understanding of how the new processes will financially benefit the business
- The impact the expected outcomes will have on the company (e.g. increased turnover, profitability, new staff employed or jobs safeguarded).
Application guidlines and how to apply
To find out more about the innovation fund and how to apply, visit the Innovation Fund Application Guidelines page.