UK SMEs encouraged to use €3 billion development pot

UK SMEs have been encouraged to apply for business development funding from the European Commission in January 2014. Businesses can apply for up to €3 million each from the Horizon 2020 fund. Unlike previous funds and grants from the European Commission, SMEs receive all of the money to spend as they see fit with a further 15 days of free coaching paid for directly by the European Commission.

Pera Technology, partnering the European Commission and Horizon 2020 Fund have encouraged British businesses to apply for funding to develop their businesses from the 1st January 2014, when the fund opens. It will most likely benefit manufacturing and engineering firms, seeking to develop their own products in the next few years. 

In order to be applicable for the larger research and development fund businesses must demonstrate market demand and there is a further €50,000 lump sum available to business for this purpose. SMEs can also claim for up to 15 days free of charge coaching to help drive their product to market. To find out more information, go to http://www.peratechnology.com/.

If your business has spent money on research and development for an innovative product (e.g. developing systems and technology, creating a product or producing a treatment), you may be eligible to Research and Development (R&D) Grants. Please contact us to find out if you are eligible and our partners may be able to help you claim back money in the form of grants and tax relief on products/ services you’ve already spent R&D money on.

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