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Peak Innovation SME Innovation grant

The objective of this grant is to increase private sector investment in growth-enhancing activities.

Through targeted support for small and medium-sized businesses this grant aims to help them undertake new-to-firm innovation; adopt productivity-enhancing, energy efficient and low carbon technologies and techniques; and start or grow their exports.

Minimum grant £1,000 (project cost at least £1250)

Maximum grant £10,000 (project cost at least £12,500)

A larger grant may be considered in exceptional cases where grant funding is necessary for the project to proceed and deliverables are substantial.

The grant rate will be up to 80% of total eligible project cost.

This grant is funded by UKSPF for revenue and capital grants. The total fund from UKSPF is £147,584.

Small and Medium sized enterprises must satisfy two or more of the following requirements in a year:

  • Annual Turnover under € 50m (you will need to check the latest exchange rate of euro to £)
  • Balance Sheet Total Under € 43m (you will need to check the latest exchange rate of euro to £)
  • Number of employees: a headcount of staff of less than 250

Expected deliverables may include:

  • Enterprises adopting new to the firm technologies or processes
  • Number of enterprises adopting new or improved products or services
  • Jobs created
  • Jobs safeguarded

Applicants will need to demonstrate their proposal meets at least two or more of the above deliverables, priority will be given to those which introduce new technologies or processes and create new jobs.

Further details of general business grant guidance can be found in the UKSPF Business Grant Guidance document.

For further information please contact