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Innovation Voucher Scheme
Last updated: 13 May 2010 15:51 UKA new scheme offering businesses access to university facilities and expertise is being launched to help organisations with a creative need.
Small and medium sized businesses (SMEs) in the South are being encouraged to apply for Innovation Vouchers worth up to £4,000 which will effectively ‘buy’ in University support in the form of innovation and research capabilities.
The scheme is targeted at businesses which need some kind of help on a creative level, but this can include consultancy, research and development of prototypes and a range of other services. The pilot scheme is being launched by the University of Portsmouth in conjunction with the South East of England Development Agency (SEEDA).
Mark Baker, Head of the University’s Research and Knowledge Transfer Department said: “SMEs are sometimes held back because they don’t have the right technology or expertise. This is where the university can help. The scheme is designed to bridge that knowledge gap and help them grow and develop.”
The scheme is available to SMEs in the creative industries and in other sectors where they could benefit from creative assistance. The Innovation Vouchers will be used to subsidise the cost of the interaction and the SME will be expected to provide a contribution to the overall work to be carried out. The minimum being that the SME would pay the VAT element of the work.
“This is a low-cost way of obtaining that crucial extra help. For many organisations this could be the boost they need to realise their potential,” Baker said.
The typical uses of an innovation voucher may include technical validation of a technology, development of a prototype, consultancy from experts or specialists or even using University facilities or equipment. It cannot be used to fund the normal salary costs of an SME or activity that displaces the private sector.
Access to vouchers is limited and organisations should contact the University of Portsmouth to find out more: University of Portsmouth, Purple Door: 023 9284 4444 purpledoor@port.ac.uk
