Fund now Closed
The Advantage Proof of Concept Fund closed to new applications in November 2009. If you are currently in the process of preparing a Section B application for us, this must be submitted no later than 22nd January 2010 in order to be guaranteed consideration.
If you have not been able to meet the deadlines for Proof of Concept grant you may be interested in the following alternatives for SME businesses seeking innovation support:
- Grant for Research and Development including the recently added Proof of Market grant.
- Innovation Networks where SMEs propose to work together on innovation.
- Innovation Vouchers to use in collaboration with an HEI on innovation activity.
Innovation advice and guidance is also available through West Midlands Business Link 0845 113 1234.
The £5.8 million Advantage Proof of Concept Grant Fund was launched in 2008 to promote economic growth through innovation by supporting many of the third party costs that businesses face when developing new products and processes.
It was set up by the University of Warwick Science Park with funding from Advantage West Midlands and the European Regional Development Fund to provide grants of up to £30k for universities and businesses developing innovations that have significant economic potential.
Alongside partners at Malvern Hills Science Park, Staffordshire BIC, Wolverhampton University and Connect Midlands, the Fund covers the whole of the West Midlands region and seeks to support both pre-start and well established businesses to advance innovations toward commercialisation by funding prototyping, IPR fees, market assessment, business planning and limited management support.
