Funding to develop a new product or process or service

Support provided by Interface

What does this involve?

The purpose of this funding programme is to support projects that bring a company and university or further education college together, to develop a new or pioneering idea and drive innovation in business.

The value of an Innovation Voucher is between £1,000 and £5,000, which covers the project costs and is paid directly to the university or college.

Interface provides support with finding a suitable academic partner who has the right specialist expertise to progress your Research and Development project.

Am I eligible?

Yes, if you:

  • have never collaborated with a university or further education college to undertake research and development
  • are a registered business operating in Scotland
  • are a small to medium-sized enterprise (less than 250 employees, turnover less then €50m or a balance sheet less than €43m, as defined by the European Commission) or social enterprise
  • have a novel or pioneering idea which will lead to new products, services or processes that will benefit the company, the academic institution and the Scottish economy
  • have a project which cannot be delivered commercially and requires the technical expertise of an academic partner

What does this cost?

There is no cost to apply for the innovation voucher. 

The company contributes an equal value in cash, in kind (such as staff time, materials or equipment) or a combination of both.

Who is this for?

Any organisation (SME, social enterprise and third sector) with a business presence in Scotland looking to partner with a Scottish University or Further Education College for the first time.

How long does this take?

Applications must be submitted by the relevant academic institution and may take up to 3 weeks from submission to be approved by Scottish Funding Council.

Projects should generally start within 4 weeks of the grant being approved and generally should be completed within 3 months depending on your project.

Important information

A company can receive one Product/Process/Service Innovation Voucher and can also apply for a Workforce Innovation Voucher.

Sole traders and businesses not registered in Scotland will need to submit a pre-submission form to establish eligibility.

The voucher cannot be used to match other public funding schemes.

Next steps

Please submit an enquiry and an adviser will be in touch to discuss your needs.

Support provided by Interface

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