How Does The Funding Work
The competition has provisionally allocated £25 million to fund a limited number of collaborative R&D projects.
Successful applicants can attract grant funding towards their eligible project costs. The percentage of costs we pay varies, depending on the type of research being carried out, the type of organisation involved, and the outcome of a value-for money economic assessment which will be undertaken by BIS.
We expect funding to be split between industrial research, in which a large business partner will generally attract up to 50% public funding for their total eligible project costs (60% for medium and 70% for Small/Micro enterprises), and experimental development, with a business partner attracting 25% funding for their total eligible project costs (35% for a medium and 45% for a Small/Micro enterprise).
Overall, a project cannot attract more than 50% public funding towards total eligible project costs.
We expect projects to last between 18 and 42 months, ranging in size from £5M to £40M.
To see the full details of how the funding works, read the Funding Allocation and Project Details section of the Guidance for Applicants document.