SMART is a grant scheme which offers funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.
The scheme supports SMEs carrying out R&D which offers potentially significant rewards and that could stimulate UK economic growth.
Three types of grant are available:
- Proof of market
- Proof of concept
- Development of prototype.
Any UK SME undertaking research and development may apply; applications are accepted on a rolling basis for assessment by independent experts.
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