New Voucher Scheme To Stimulate Small Business Innovation

UK-based SMEs will be able to obtain Government funding to help them develop and grow via the Innovation Voucher scheme – commencing 24 September 2012.

The scheme will be managed by the UK’s innovation agency, the Technology Strategy Board and will enable start-up, micro, small and medium-sized businesses to access up to £5,000 worth of advice and expertise from knowledge suppliers, including:

  • Universities and further education colleges;

  • Research and technology organisations;

  • Technical consultancies;

  • Catapult centres;

  • Design advisers;
Intellectual property advisers.

The Innovation Vouchers will only be available (at first) to businesses that are working within the agrifood and built environment sectors.

In addition to these sectors, vouchers valued at up to £8,000 will be available to businesses working within the space sector.

The Technology Strategy Board will monitor the progress of the scheme before deciding whether to extend it to other sectors in the future.

About The Author