Grants Available For Software Development

Posted by Netmatters

Grants for Software Development: Are you Eligible? Norwich, Norfolk & Cambridge 

Innovation, research, and development are essential elements of investment for any company, no matter the size. Thanks to New Anglia LEP, this has now become more accessible than ever with grants of up to £25,000 from New Anglia LEP’s Growth Through Innovation Fund for any business in Norfolk and Suffolk that can support bespoke software development.

The grants are specific to investments within innovation, research, and development so there is a good chance that any planned bespoke software development project will qualify. The grants offered start from £2,500 and can reach up to £25,000, covering up to 45% of the total eligible costs of your project.

Am I Eligible?

There are some restrictions in terms of the sectors that are eligible, but in general, if you are a SME (small and medium-sized enterprise) employing less than 250 employees and your turnover is less than £43m, and you're in Norfolk or Suffolk, then you could be eligible for a grant. If you’re unsure whether your business will qualify, read through the full details available through the New Anglia website.

Grants for Software Development: Are you Eligible? Norwich, Norfolk & Cambridge

Is My Software Development Project Eligible?

If the remainder of the funding for your software development project comes from your company, then your project is eligible, and you can now move onto applying for consideration!

What Reasons Will Justify My Grant Application?

As the title of the funding call suggests, the criteria for eligible projects focuses on innovation. You will need to demonstrate the project is trying to overcome a problem in which there is a significant level of uncertainty. However, most bespoke software projects have a chance at achieving this through the innate nature of this kind of work. Businesses tend not to build software that is already readily available “off the shelf” or via configuration of existing solutions.

Here we have listed a few questions, provided by New Anglia LEP, that can help guide you in the what will justify your grant application:

  • Do you want help towards the costs of designing, building, and testing prototypes of new or better products?
  • Do you need to invest in external specialist knowledge to improve your business’ products services or processes?
  • Do you need to invest in R&D testing equipment?
  • Do you need to adopt novel or innovative digital technologies to become more efficient and productive?
  • Do you need to patent your ideas or inventions?

(Source: New Anglia LEP Local Enterprise Partnership)

Grants for Software Development: Are you Eligible?

What Type of Project Would Be Eligible?

Software innovation sits in the area where process of applications can be achieved by software, but no one has yet created a solution for that specific need. Ergo, there is a technology gap full of uncertainty that will require some element of agile development to overcome obstacles as they arise during the process. The unknown nature of the size and cost of overcoming these obstacles stops a lot of projects from proceeding, or at least delays them whilst funding is sought or saved. These are the projects this funding call is targeting.

Ok, What to Do Next?

We as a business have extensive experience in software development and are familiar with grant applications and justifications for R&D tax credit. As such, we are ideally placed to offer the best advice and support. If you have a project that you consider eligible, then please give our teams in Norwich or Cambridge a call on 01603 704 020 for a no-obligation chat or fill out the contact form below and we will endeavour to help.

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