What is the Proof of Concept Grant Fund?
The Proof of Concept Grant Fund gives you the chance to receive up to £500 to put towards working on your business idea. The Fund provides financial assistance in the early-stage development of projects that show commercial potential. Awards are made from £250 up to £500. You will also get detailed feedback on your business idea and suggestions for how to improve it. The PoC grant is aimed to enhance technology transfer, application of research outcomes in enterprises and in society, as well as strengthen the societal and economic impact of research.
Eligibility criteria:
- You must be a sole trader, partnership or limited company to apply.
- You must have an innovative/novel concept to prove.
- The principal applicant must be resident in Northern Ireland, and if the principal applicant is applying through a limited company then the company must be registered in Northern Ireland, with the principal applicant being the majority shareholder in the limited company.
- Applicants can have no more than two applications, irrespective of the outcome, the entity applying or the concept applied for.
- Applicants who have previously been awarded a Catalyst Co-Founders’ Proof of Concept Grant cannot use the Techstart Grants to cover the same costs. Double-funding must not occur.
Proof of Concept grants will fund external expenditure for:
- Intellectual Property (IP) due diligence
- Market research/analysis/assessment
- Prototype development
- Business plan development
- Other PoC/feasibility concepts
Applying for funding:
- The grants are quick and easy to apply for. We recommend you contact us first to discuss whether your project fits the criteria and then we can provide support with putting an application together.
- Applications are accepted from SMEs located in Coventry & Warwickshire and Greater Birmingham & Solihull.
What you can get
You can apply for grants to prove that your innovations have significant economic potential, including:
- new machinery – hardware and equipment
- market research and assessment
- IPR protection
- accreditations
- prototyping
- marketing/events/demonstrations
- building works
