Innovation Voucher Scheme
The proposed collaborative project should lead to new products and processes that will benefit the business, the institution and the Scottish economy.
These awards are specifically to encourage new partnerships that have not jointly received funding from any source previously for the proposed project so as to build links between Scotland's Higher Education Institutions and small businesses.
The scheme is broad in its application, however funds may not be used to cover the costs of:
- Standard Training Courses
- Software Purchases
- Aid that would promote / subsidise the cost of exports
- Internships for students of knowledge institutions
- Design and production of advertsing materials
- Sales activities
The award is for up to £5,000, with a minimum of £1,000 and will be paid to the academic institution by the Scottish Funding Council to offset the costs of the collaborative project.
The company contribution is expected to match the grant contribution from the Scheme. All expenditure must be clearly accounted for in a final report.
All small to medium enterprises (SMEs) in Scotland (ie. those with a registration commencing SC) are eligible to partner with a Higher Education Institute (HEI) under the scheme. SMEs are organisations that are registered companies, employ between 1-250 employees and have an annual turnover of less than £35 million.