Want £50,000 to develop a new product?
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.