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New Product Development Funding Available – Phase 1

NPD Grant Funding For SME Manufacturers

Perhaps you some great product ideas sitting on the shelf, or filed just waiting for the time and resource to commercialise. Alternatively you might already be implementing a feasibility / testing process. In either of these cases it may be that securing funding for research and development will increase the chance of success.

Expected Client Profile For the EU NPD Funding

  • Turnover over £500,000
  • Employ more than 5 Full Time Employees
  • Are manufacturing, integration or product orientated
  • Have great ideas and want to grow and develop

The EU NPD Funding has two phases

Phase 1 – Concept and Feasibility Assessment
A feasibility study is developed verifying the technological, practical and economic viability of an innovation, idea or concept with novel appeal to the industry sector in which it is presented. This can include 

  • New products
  • New processes
  • Design services
  • Technologies
  • New market applications of existing technologies

Activities 

  • Feasibility of concept
  • Risk assessment
  • IP regime
  • Partner search
  • Design Study
  • Pilot application

Project Output
The proposal should give the specifications of the elaborated business plan, which is the outcome of the project and the criteria for success.
Funding Available, Project Duration and Customer Commitment

  • Funding is provided in a lump sum of €50,000
  • The company has to contribute €20,000 in kind contribution (This is made up of employee involvement within the project)

The process for the manufacturer

  1. If you are interested in the EU NPD project funding contact Andrew Goode on 01733 361729 or andrew@bdolphin.co.uk
  2. We will get  a Technology Consultant to contact you and they will discuss your requirements
  3. At this point there are two options
    1. If they think your project has no chance ofgrant funding success they will advise that you dont go through the application
    2. If they think you have an opportunity of completing a successful grant funding bid they will suggest that you make an application. At this point there is a £5000 bid fee payable

New Product Development Funding

For more information on new product development funding contact click here a call on 01733 361729. For information on Phase 2 funding and other grant funding packages click here.

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