New grant assistance from Innovate UK’s Covid-19 Fast Response Funding available via the MTC and PMI
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New grant assistance from Innovate UK’s Covid-19 Fast Response Funding available via the MTC and PMI

The MTC and Product Manufacturing Incubator (PMI) have been registered as RTO providers supporting Innovate UK’s new Covid 19 Fast Response Funding scheme.

This means that businesses can benefit from the facilities and services provided by the MTC and PMI to support the development of new and existing projects. Innovate UK Edge clients can apply for grants of up to £15,000 for 100% of the cost of eligible projects.

This can include testing new product ideas, provision of technical, sector, and regulatory advice, and access to networks of potential customers and funders.

The grant can also be spent on identifying R&D opportunities and the creation of industry-specific R&D project plans. Businesses can also get support to commercialise their innovation and assistance with market analysis and cost-modelling as part of the grant.

Gabrielle England, Business Development Manager for MTC PMI said: 

We know that one of the primary challenges that many businesses face is funding and investment, and often this is the difference between innovations being brought to life or staying as great ideas. This new funding stream will help address these barriers, by providing eligible projects with the opportunity to explore R&D, and utilise the facilities and expertise of the MTC and PMI teams

The MTC’s PMI team specialises in supporting organisations on their journey from initial ideas to commercial success – read more about the PMI process here.

The MTC and PMI’s role will be to help the grant receivers with sector-specific advice, testing, development work, and use of facilities. The resulting outcomes and impact are key qualifying factors in considering the suitability of businesses for the Growth Support Account fund. Companies must be UK registered, and the grant must not result in them exceeding their rolling three-year allowance limit.

You can find more information about the grant scheme, how it can springboard your business, and eligibility rules here.

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