AEROSPACE UP INNOVATION GRANT
How it works
It is not essential to have any particular project in mind at the beginning of your engagement with the Aerospace UP Delivery Team, but it may be useful to think beforehand about the areas where the Innovation Grant might be able to provide assistance. These might include:
Ideas for new technology, business systems or processes which would help to grow your business, improve productivity, differentiate you from your competition, or give you a competitive advantage.
Ideas for greener technologies, products or processes.
Ideas to improve efficiency, reduce the cost of manufacture or lead time which would assist in business growth and increased market share.
Mapping out how your company could potentially evolve to meet future market and customer requirements.
Any quality or delivery issues, which, if solved, could lead to business growth and increased market share.
Particular problems in the manufacture of new products where the assistance of experts might be helpful.
AM I ELIGIBLE?
Coventry & Warwickshire
Derby, Derbyshire, Nottingham & Nottinghamshire
Greater Birmingham & Solihull
Leicester & Leicestershire
South East Midlands
Stoke-on-Trent & Staffordshire
Be active in, or looking to diversify into, the aerospace supply chain.
The activity funded should aim to develop new innovative products to either the firm or the market.
If unsure, email the team to check which LEP area your company is based in.
To access support from Aerospace UP you must be a SME (fewer than 250 employees, a turnover of less than €50 million, or a balance sheet total of less than €43 million) located in one of the following area:
HOW MUCH FUNDING IS AVAILABLE FROM AEROSPACE UP?
D2N2 (Derby and Derbyshire, Nottingham and Nottinghamshire
SEMLEP (Northamptonshire, Bedfordshire, Northern Buckinghamshire
Leicester and Leicestershire
Greater Birmingham and Solihull
A grant of 42.67% is available on eligible project spend between £2,343 and approx £234,356. This equates to a grant of between £1,000 and approx £100,000. Project spend can exceed the offered grant amount but it will be capped at the agreed grant amount.
Stoke and Staffordshire
A grant of 52.9% is available on eligible project spend between £1,890 and approx £189,035. This equates to a grant of between £1,000 and approx £100,000. Project spend can exceed the offered grant amount but it will be capped at the agreed grant amount.
The length of the proposed project can range in length. However, due to the programme ending on 30th June 2023 the latest end date for spend we can offer a project is 31st March 2023.
WHAT IS THE PROCESS?
We operate a rolling call and Expression of Interests can currently be submitted at any time.
After the submission of your Expression of Interest, we will review your innovation project’s eligibility for grant funding. Successful projects will be invited to submit a Full Proposal. The Full Proposal will have to be returned within 4 weeks of afore-mentioned invitation.
Dependent on the complexity of the proposed project, representatives from the applicant may be required to make a presentation and answer questions at a panel meeting.
Please note that applicants should allow a minimum of 3 months for the progression of applications through the entire process, although each project will be different and your Aerospace UP contact will provide clearer updates on the timescales once your application has been received.
You can download an example of the Expression of Interest form here (though please note that this form is for information only, please do not fill it in before speaking to a member of the Aerospace UP team).
Expression of Interest
Innovation Grant Agreement