ADVANTAGE PROOF OF CONCEPT
- THE VENTURE CENTRE, SIR WILLIAM LYONS ROAD
CV4 7EZ COVENTRY, WEST MIDLANDS
Phone: 0845 074 3531
www.advantageconcepts.co.uk
Short profile:
The Advantage Proof of Concept Grant Fund has a Central Administration Office which works alongside satellite offices.
The £5.8 million Advantage Proof of Concept Grant Fund was launched in 2008 to promote economic growth through innovation by supporting many of the third party costs that businesses face when developing new products and processes.
It was set up by the University of Warwick Science Park with funding from Advantage West Midlands and the European Regional Development Fund to provide grants of up to £30k for universities and businesses developing innovations that have significant economic potential.
Detailed description:
Alongside partners at Malvern Hills Science Park, Staffordshire BIC, Wolverhampton University and Connect Midlands, the Fund covers the whole of the West Midlands region and seeks to support both pre-start and well established businesses to advance innovations toward commercialisation by funding prototyping, IPR fees, market assessment, business planning and limited management support.
Recognising the need to support innovation from its earliest stages, Advantage West Midlands created the Advantage Proof of Concept Grant Fund to provide pre-commercialisation capital for technical and commercial proof of concept. The Fund supplies grants, typically between £15k and £30k to support the third party costs associated with commercialising new products and processes.
The Fund became active on the 10th October 2008 based out of the University of Warwick Science Park and is expected to award grants until 31st March 2010 on a rolling basis. It is managed by UWSP Concepts Limited on behalf of Advantage West Midlands.
The Fund is also delivered through four satellite offices based at UWSP/Connect Midlands, Malvern Hills Science Park, the University of Wolverhampton and Staffordshire BIC. The majority of interaction with applicants to the Fund will be handled by these satellite offices due to the volume of applicants that we must process and so that the Central Office can be demonstrably objective and fair in its scrutiny of applications.
Keywords:
Research, Development, Innovation Networks, Vouchers, innovation, activity, Case Studies, Applications, information