Application Guidelines
Introduction
The information below provides an overview of the guidelines and requirement for the innovation fund. However, the easiest way to apply for the 2kt Innovation Fund is to contact us to discuss your project with one of our Business Development Executives who assess the suitability of the project, and help prepare the required information.
Find out how to start your application
For an indication of the information we will require download a sample 2kt Innovation Fund Application Fund form.
Guidelines
The 2kt Innovation Fund is aimed at building relationships between Scottish based SMEs and the 2kt partners by stimulating collaborative work that will lead to new products, processes, services or routes to market for your business. Funding of up to £5000 is available and is paid as de minimis aid funding. Read more about de minimis aid.
Eligible Projects
Projects must focus on opportunities that are likely to attract follow-on funding from existing sources, demonstrate a clear route to market or indicate a step change in current processes within a company. The output of projects should reflect the value to be obtained from any partnerships on an ongoing basis and the potential to develop a product, process or service that can give benefit to both the participants in the study.
Match Funding
Match funding should be in the form of any of the following:
• Money;
• Contributions in kind (based on staff costs calculated as number of days or percentage of salary);
• Additional costs associated with the project (e.g. materials and consumables)
Match funding must be quantifiable and be supported by efficient record-keeping procedures.
Intellectual Property
As part of the Innovation fund contract, it will be expected that both parties provide access to background IPR required to undertake the project. Although we will not stipulate how the foreground IPR must be managed, at the end of the project, the partnership must demonstrate how the company will have access to commercialise any foreground IPR.
Submission
Applications are invited from Scottish SMEs working in any sector and if you feel you have a suitable project then please contact us so that we can review the suitability for funding. Once submitted through your dedicated Business Development Executive, it is anticipated that applications will be assessed and a decision as to whether they are successful, given within 4 weeks of submission.
Project Outputs
All successful feasibility study applicants will be required to complete a short report following completion of the project. Guidelines for what is expected to appear in this report will be given to successful applicants prior to commencement of the project. In some cases (usually where the duration of the project exceeds six months) applicants will be required to complete a brief interim report(s) at a designated point(s) in the study.
How to start your application
To find out if your organisation is eligible to receive the 2kt Innovation Fund contact us using our online email form. Simply provide the name of your organisation, a brief description of what it does and how you believe you would utilise the fund. Your enquiry will be passed to the relevant 2kt Business Development Executive who will endeavour to contact you within 48 hours.