An overview of grant funding if you are considering this option for growing your business.
About Innovate UK
Innovate UK are a non-departmental government body who provide businesses with grants for innovative, game changing ideas. Furthermore, they can assist in connecting innovators with the right partners they need to succeed. Innovate UK has invested more than £1.5 billion in innovation since 2007.
Grant funding announcements
A grant funding round was announced in November 2017. Businesses have access to £18.4 million to improve their processes and efficiencies.
These grants are a great source of investments to help drive your business productivity and growth. Allowing you to realise the potential of new technologies, and develop ideas and make them a commercial success.
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An example of how grant funding has benefitted a business is Versarien. Founded in 2010, In its embryonic stages Versarien won an Innovate UK grant to help develop its technology. They aimed to commercialise an innovative process for making metallic foams developed at the University of Liverpool.
As a result, following its early days of 2 employees working out of a garage, Versarien has grown beyond recognition to a £5 million turnover business working out of 4 sites. Furthermore, the London Stock Exchange have listed Versarien.
How Roffe Swayne can help
Businesses are required to report back to their respective donor on their expenditure. An independent report from a registered auditor is therefore required as part of this process.
We have an experienced specialist team who have worked with a wide variety of businesses who are therefore able to guide you through the audit process.
Once engaged, we are able to conduct grant audits onsite or remotely where onsite visits are not practical.