Want £50,000 to develop a new product?

Author

Joanne Coyle
Invest NI
Feb 13, 2015

If you've been reluctant to go down the R&D road in case it is costly or too time-consuming, now might be the time to reconsider.

“Invest NI’s support helped us to convert a smart idea into a smart technology product that is now attracting huge international interest.”
Johnny Campbell, Brewbot.

We’re calling on businesses that are new to R&D to bring forward projects that could produce new products or services that have export potential. And to get you going we can provide up to £50,000 of support.

Maybe you think R&D is something big companies do? Something super hi-tech or science related?

Often it is, but just as often it’s about taking an idea and developing it into a practical product that customers want to buy. Like Garage Doors did to expand its range of doors, and APT Innovations, which invented a product to remove water and impurities from water pipes.

Who can apply

If you can answer yes to the following you can apply for our New to R&D support:

  • Are you planning to improve a process or develop a new product or service that can be sold outside of Northern Ireland?
  • Does your new product, improved process or service demonstrate a clear unique selling point that is better than your competitors’ and is potentially world class?
  • Do you plan to undertake at least 50% of the development work in your business premises?
  • Will development costs for the project exceed £15,000 and, if so, can you afford to pay at least 50% of the costs?
 

How to apply

If you haven’t considered developing new products or services, you’re missing out on the opportunity to significantly increase your sales and profits.

Our New to R&D call is open until 16 March 2015. Apply online or call us on 0800 181 4422.

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