Bringing a new product to market can be a long and expensive process, but there are several grants available in the UK to help inventors bring their products to market.
Here are some of the grants you should consider:
Innovate UK
Innovate UK is the UK's innovation agency and provides funding and support to businesses looking to develop and bring new products to market. They offer a variety of funding programs, including grants, loans, and equity investment.
For more information, visit the Innovate UK website at https://www.innovateuk.ukri.org/.
Research and Development Tax Credits
The UK government offers Research and Development (R&D) tax credits to companies that are investing in innovation. These tax credits can provide valuable support to inventors developing new products.
For more information, visit the UK government website at https://www.gov.uk/guidance/research-and-development-tax-credits.
Enterprise Investment Scheme (EIS)
The Enterprise Investment Scheme (EIS) provides tax incentives to individual investors who are investing in small, high-risk companies. The EIS can provide valuable funding to inventors looking to bring their products to market.
For more information, visit the UK government website at https://www.gov.uk/guidance/enterprise-investment-scheme.
Patent Box
The Patent Box is a tax incentive that allows companies to apply a lower rate of corporation tax to profits earned from their patented inventions. The Patent Box can provide valuable support to inventors looking to protect and commercialize their products.
For more information, visit the UK government website at https://www.gov.uk/guidance/patent-box.
European Regional Development Fund (ERDF)
The ERDF provides funding to support economic development in the European Union. The ERDF provides funding for a variety of initiatives, including support for small businesses and innovation.
For more information, visit the European Commission website at https://ec.europa.eu/regional_policy/en/funding/erdf/.
These are just a few of the grants available to inventors in the UK. It's important to note that grant application processes can be competitive and time-consuming, so be sure to carefully review the eligibility criteria and requirements for each grant before applying.
Conclusion
There are several grants available in the UK to help inventors bring their products to market. From the Innovate UK agency, to Research and Development Tax Credits, Enterprise Investment Scheme (EIS), Patent Box, and European Regional Development Fund (ERDF), there are many resources available to support inventor's product development efforts. Consider these grants as a valuable resource for your product development journey.