If your company is headquartered in Scotland, you might be interested to know that there are Scottish business awards available.
Grants are funds supplied by the government, local governments, and private organizations.
Normally, you are not required to return them. However, you may be required to adhere to certain conditions, such as a job creation objective or a deadline.
Grants are typically offered to assist with the development of new products, services, or markets and the creation of jobs.
Grants are designed to assist you in finding a certain project. Still, they often only cover a portion of the overall expenditures, requiring you to provide match funding in most circumstances.
Furthermore, most grants are given retrospectively, so you’ll have to pay money upfront and then recoup it later.
Every grant will have its application process, but there will be certain common elements you’ll need to demonstrate, such as how the grant will address a funding gap and what other attempts you’ve made to collect money.
The most common types of grants offered in Scotland are for ideas or enterprises that:
- Will result in social or economic advantages, such as developing jobs.
- Do you want to collaborate on initiatives that will result in new technologies or ideas?
- Are you a researcher or a developer?
- Here are a few essential resources where you can find various funding options.
Better Business Finance is an information and support resource for firms and individuals wishing to expand and thrive. With a complete list of known grants in Scotland, use this search to find exactly what grant funding is available to your firm.
Scottish Enterprise is a non-departmental governmental agency in Scotland that promotes economic growth, enterprise, and innovation. The funding paradigm for Scottish Enterprise has recently altered. The majority of the money will be announced via funding calls, a series of rounds with set start and end dates. They’ll be geared toward assisting companies with specific projects. Research and development, selective regional assistance, and environmental aid are the only grant programs that no longer accept applications. On the Scottish Enterprise website, you can look for financing options.
Business Gateway: Provides startups and existing businesses in Scotland with information and guidance. For more information about grants and funding, go to this website.
Search for business funding and assistance from the Scottish government.
Creative Scotland distributes funds from the Scottish government and the National Lottery for the arts, film, and creative sectors. Learn about their many funding programs.
Interface: All Scottish SMEs are eligible for funding through Interface’s several funding sources. To apply, your company will need an academic partner. The Interface can help you find one if you don’t already have one. To learn more about their funding, go here.
Zero Waste Scotland offers funds available to assist your firm in moving towards a circular economy and/or increasing recycling efforts.
Scottish firms can apply for grants.
Scotland Grant (SMART)
NB: Applications for the current grant call have now closed. See the SMART: Scotland Grant website for information on future grant rounds.
Who is eligible to apply?
Small and medium-sized businesses, academic spin-offs, and people based in Scotland or planning to do so.
Criteria:
- SMART: Scotland provides funding and support for feasibility studies that demonstrate your idea’s viability in the real world. Your project must generate intellectual property (IP) that your company will own.
- Small firms can get up to 70% of the price of approved projects, while medium-sized businesses can get up to 60%.
- Projects must span six to 18 months, with a maximum grant of £100,000 available.
- A third of the award is paid upfront, while the balance is paid quarterly in arrears.
>See also: How to Protect Your Intellectual Property as a Startup or Scale-Up
Grant for Workplace Innovation
NB: Applications for the Workplace Innovation Grant are currently closed. It will reopen in the coming fiscal year.
Who is eligible to apply?
Businesses situated in Scotland seek to implement innovative techniques in their workplace.
Criteria:
- The fund can provide up to £5,000 for initiatives that help a company implement new and innovative working practices. The project must meet at least two of the following three criteria to be eligible for the grant: – People: To assist in encouraging employees in ways other than pay. Recognize the benefits of diversity, reward, and support learning and development
– Place: To support improving or maintaining a positive workplace culture, creatively use physical space to improve how employees work together, offer training associated with integrating technology that allows employees to share knowledge
– Practice: To support work practices to become more fair, responsible, and productive. For example, flexible working habits, self-managed teams, and leadership and coaching culture.
Grants for specialist research and development are available to UK enterprises.
Access to IBioIC Facilities Fund
Businesses can apply for up to £10,000 from the Industrial Biotechnology Innovation Centre’s (IBioIC) Facilities Access Fund to support vital research and development projects.
Biotechnology applications such as biorefining, food and drink, biomanufacturing, waste management, textiles, and agritech can all be covered by projects directed by an industrial partner. Thanks to the grants, companies will be able to gain quick access to the facilities and knowledge needed to accelerate innovation.
Companies interested in applying for the fund should first contact IBioIC to discuss their proposal before being evaluated for its economic contribution, technological viability, and additional benefits to Scotland, such as job generation or environmental effects.
You can reach out to them via their website.
A grant from Innovate UK
Who is eligible to apply?
The UK’s innovation agency, Innovate UK, is part of the UK Research and Innovation department. Any UK-based business or research organization can apply for a grant.
What can you do with it?
- Develop a process, a product, or a service through research and development (R&D).
- Put your innovative ideas to the test.
- Collaborate with other businesses.
Scottish Growth Initiative (SGI)
Who is eligible to apply?
The Scottish Growth Scheme is a £500 million financial assistance package for Scottish businesses.
What can you do with it?
Small and medium-sized businesses (SMEs) in Scotland can apply for the following grants:
- debt or loan finance of up to £100,000,
- equity finance of up to £2 million,
- microfinance loans of up to £25,000
Scottish Venture Fund is a company that invests in Scotland.
Who is eligible to apply?
The Scottish Venture Fund invests in firms seeking money to develop products and/or markets, ranging from startups to early-stage companies.
What can you do with it?
This flexible equity gap fund works with private sector investors to provide equity capital ranging from £10,000 to £2 million. This fund will be used to create new goods and/or markets. On a commercial basis, it can invest alongside sophisticated private sector partners on an equal footing up to 50% of the overall funding package.
Sustaining Creative Development with an Open Fund
Who is eligible to apply?
Individuals and organizations in the creative sectors are eligible for the Open Fund.
What can you do with it?
Individuals and organizations each have their financial streams.
- Between £500 to £100,000 in funding is available.
- The fund’s goal is to help individuals and organizations experiment with new ways of working that will help them adapt and adjust to changing circumstances.
- The fund is open all year and has no deadlines, and it can support activities for up to a year.
Sustainable Travel Grant Scheme of NESTRANS
Who is eligible to apply?
Applications can be submitted on behalf of the following organizations:
- Any business or other organization based in or functioning in Aberdeen or Aberdeenshire, including charities, not-for-profits, and public sector agencies.
- Within such a firm or other organization, a specialized workplace or department.
- I am currently drawing visitors or clients by car to commercial or public service premises (not a private dwelling).
What can you do with it?
NESTRANS supports the development of travel planning in Aberdeen City and the Shire. Applicants can apply for matching funding of up to £10,000 to promote sustainable transportation initiatives.
Sportsmanship
Who is eligible to apply?
ACCORDING TO THE WEBSITE, Scottish EDGE is a “competition focused on finding and supporting Scotland’s up-and-coming, inventive, high-growth potential entrepreneurial talent,” according to the website.
What can you do with it?
Winners can earn up to £100,000 in funding and a business support package to help them maximize their grant money.
Creative, Social Enterprise, Circular Economy, and STV Growth Edge, available to consumer-based product enterprises, are the four main categories in which prizes are given.
Grants for Forestry
Who is eligible to apply?
Any firm of any size.
What can you do with it?
This program aims to provide financial assistance to enterprises involved in the establishment of new woodland spaces or the long-term management of existing woodlands. The Scottish Rural Payments and Services Agency and Scottish Forestry are in charge.
Scheme for Small Innovation Grants
Who is eligible to apply?
SMEs in the Highlands and Islands are eligible to apply. This funding is awarded on a discretionary basis, emphasizing innovative projects that directly address the Covid-19 situation.
What can you do with it?
The Highlands and Islands Enterprise agency, situated in Inverness, administers this funding scheme. Grants of up to £15,000 are available from the organization.
It might be a health-related solution or something that assists other firms in regaining employment – whether by diversification, using technology, adapting company methods to the changing economic environment, or producing new items to continue to trade.
Scotland’s Culture and Business Fund
Who is eligible to apply?
Social enterprises are common in Scotland.
What can you do with it?
Arts & Business Scotland, an independent charity, manages the CBFS. The fund provides pound-for-pound match financing for qualified projects worth up to £40,000 (excluding VAT) and is divided into two tiers:
- Smaller sums of money, ranging from £1,000 to £3,000
- Funds of more than £3,000 and up to £40,000 are available.
Its goals are to encourage businesses to support arts and heritage activities in Scotland while developing new business sector collaborations over a two- to three-year period.
Financial Assistance to Businesses in Fif
Who is eligible to apply?
Fife’s financial assistance is available to local businesses wishing to expand and develop.
What can you do with it?
The fund is worth up to 70% of the total cost or £10,000, whichever is less. Except for a few modest funds that are a mix of repayable and grant-funded support, it is totally repayable and must be paid back over time.
The money will go toward things like product development and property upgrades and training, and market development.
Grant for Upskilling the Workforce
Who is eligible to apply?
Companies in Fife who want to enhance their production and profitability by educating their employees
What can you do with it?
If you want to enhance efficiency and profitability by educating your employees, you can apply for a grant of up to £2,000 under this scheme. The Workforce Upskilling Grant can be a 100 percent contribution, which means that if the total cost of the training is less than £2,000, they will cover the entire cost.
Grant for New Businesses in the Orkney Islands
Who is eligible to apply?
Your company must be based in Orkney and have a total workforce of fewer than 50 individuals. Applicants must be working on a new startup company and building a full-time, sustainable business.
What can you do with it?
The New Business Start-Up Grant is funded by Orkney Islands Council and can range from £500 to £1,500.
Tourism, food and drink, renewable energy, critical local service providers, and community-based social enterprise firms are all on the council’s radar. Businesses that are franchised are also eligible.
Grant for a New Business in West Dumbarton
Who is eligible to apply?
This award provides up to £500 in assistance to people in West Dunbartonshire.
What can you do with it?
Costs of starting a business.
Fund for Flexible Workforce Development
Who is eligible to apply?
All employers in Scotland who pay the UK government’s apprenticeship levy are eligible.
What can you do with it?
The Flexible Labor Development Fund (FWDF) assists firms in maintaining their workforce investment.
Are you looking for funding?
Useful link: Find the best financing for your company here.
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There are 150 small business awards available in the UK right now.