SME and RDEC? What is RDEC?

SME and RDEC? What is RDEC?

What is RDEC?

RDEC (research and development expenditure credit) is a UK government tax incentive designed to support innovative companies investing in research and development (R&D). It is primarily used by large companies and by SMEs in some circumstances, such as if they’re been awarded grant funding.

One of the benefits of RDEC claims is that they can be accounted for above-the-line in your income statement (also known as your profit-and-loss account), providing a positive impact on visible profitability in your accounts.… See more...

How to create a successful crowdfunding pitch

When is the right time to apply for a grant?

A benefit of this strange situation we find ourselves in (the global pandemic) is that we banked time that would otherwise be filled with commuting to work or rushing to take the kids to school. This time provides an opportunity to think about innovative creativity and business strategies that will achieve desired business growth goals. Grant funding is a route that can significantly aid in achieving these goals.

Benefits of grant funding

Grant funding has the ability to accelerate innovation project time scales and markedly reduce a product or service’s time to market, beating the competition and establishing first-to-market status.… See more...

UK Government: The Grand Challenges

The Industrial Strategy sets out Grand Challenges to put the UK at the forefront of the industries of the future, ensuring that the UK takes advantage of major global changes, improving people’s lives and the country’s productivity.

The first 4 Grand Challenges are focused on the global trends which will transform our future:

• Artificial Intelligence and data
• ageing society
• clean growth
• future of mobility

We are developing ambitious missions to tackle the Grand Challenges. Each of these will focus on a specific problem, bringing government, businesses and organisations across the country together to make a real difference to people’s lives.… See more...

Funding your business and your innovation

One of the current focuses for the UK Government is trying to respond to the impacts of Covid-19 by widely investing in the UK’s recovery. Supporting jobs and businesses, building back greener and meeting the 2.4% of GDP target by 2027 for R&D spending are just some of the ways they are planning to challenge the economic impacts of the pandemic.

R&D funding- Technologies for the future

“…at least £490 million in 2021-22 for Innovate UK core programmes and infrastructure to support ground-breaking technologies and businesses”.… See more...

What is TRL ???

Technology Readiness Level (TRL) was originally created by NASA to assess whether their emerging technology was suitable for space exploration. Nowadays, this approach is used over a variety of different industries to understand the maturity of a technology and assess whether it’s ready for use in the “real world”.

How does TRL apply to grant funding?

R&D grant funds support the development of novel technologies from TRL 1 (Basic Principle Observed) through to TRL 9 (Actual Technology Proven in Operational Environment).… See more...

What is CRL ???

What is Commercial Readiness Level (CRL)?

R&D grant funders have shifted in the balance between technical innovation and commercial potential in current years. We find ourselves now in a position of equality where organizations must demonstrate both novelty and scalability to be successful.

Innovate UK, in particular, are now presenting Innovation Loans that support late-stage R&D activity with a preference for near-commercial products, techniques and services.

The Commercial Readiness Level (CRL) framework assesses various indicators which influence the business and market conditions beyond just the science maturity.… See more...

How to Evidence Disruptive Innovation Market Drivers

Innovation funders are eager to fund innovation for market sectors exhibiting market pull tendencies as there is a greater likelihood of innovation adoption. This consequences from the market demand for a solution, combined with a readiness and willingness in adopting change by the customer.

Contrast the distinction between the fever pitch at the release of a new Tesla (Market Pull) vs consumer annoyance and avoidance of double glazing salespeople (Market Push).

What are market Drivers/pull?

This is where a product and/or provider is produced in response to market forces or customer needs.… See more...

Innovate UK Eligibility Requirements

Every Innovate UK funding competition has eligibility requirements to make sure the funder receives value for money and that the project they are investing in will be a success. Reading through the full eligibility, scope and guidance is imperative, however sometimes it can be hard to navigate through the jargon to become aware of what the funder actually wants.

This blog will help you to get a higher understanding of Innovate UK eligibility by focusing on three key requirements.

Scope

Every funding competition will have essential scope details that need to be met for your project to be classed as eligible.… See more...

Party Manifestos: Should they be legally binding contracts?

One thing is sure, Innovation & Politics dont fit well together however;

Why is it not a crime to break party manifestos promises? This seems a simple way of making election manifestos genuinely meaningful documents – and also protecting the democratic process. Some allowance could be made for changing situations once power has been won, but I don’t see general downside in holding party leaders individually and criminally responsible for broken guarantees.

The simple answer is that it’s not a crime because Parliament hasn’t passed a law making manifesto’s legally enforceable.… See more...