SMART:SCOTLAND provides financial assistance to SMEs to help support projects that represent a significant technological advance for the industry concerned. Grant assistance can be provided to support technical and commercial feasibility studies and/or research and development projects.
This covers early stage proof of concept R&D, that enables informed decisions on the technical feasibility of a new product or process. SMART:SCOTLAND can support up to 75 percent of the eligible project costs. Projects must last between 6 and 18 months, and the maximum grant is £100,000. One third of the grant is paid upfront when the project starts. The remainder is paid quarterly in arrears against claims submitted.
This covers projects that aim to develop a pre-production prototype of a new product or process. Support is available at up to 35 percent of the eligible project costs. Projects must last between 6 and 36 months, and the maximum grant is £600,000. The grant is paid quarterly in arrears and minimum total project cost is £75,000.
SMART:SCOTLAND is administered by Scottish Enterprise and open to businesses across Scotland. The Scottish Enterprise website contains more information on eligibility criteria, how to apply and the appraisal process.