Innovate UK Proof of Market Grant – Reducing the cost of market intelligence

Milner have just completed a market sizing engagement with a bio-tech start-up through the Innovate UK Proof of Market grant. This grant may be able to help your business or a client or friend’s business.

The grant gives small and medium sized businesses (defined by the EU here) in the UK the opportunity to determine the commercial viability of a new product before further investing in it. The grant supports up to 60% of the total cost of the project to a maximum of £25,000 (i.e. you can get up to £25k of a £42k total project covered by the grant). The grant is primarily for businesses in the science, engineering and technology sectors.

With the grant, businesses are able to invest in;

• sizing the market opportunity
• carrying out market research and testing
• competitor analysis
• intellectual property positioning
• developing the strategy for commercialisation

This means that companies can determine the best strategy for their product, the size of the opportunity, the best market segments to target and when, while only paying 40% of the project costs.

At Milner, we have experience and expertise in all the areas eligible for grant funding. Our analysts are experts at building market forecast models, helping clients to understand how their market will change over time and plan for these changes. We provide independent strategic recommendations based on customer and competitor behaviour, identifying how best to position a product in the market by targeting the right customer segments, in the right geographies, with the right selling proposition and pricing strategy. So if you want proof of market intelligence to use in your business plan, investment case or further public funding applications, the grant could be really useful.

Our experience also means we are able to write our proposals in a format that can be easily put into the Innovate UK Grant application, which has cut down the time and effort for our clients. This is a valuable grant for companies with market research requirements. For more information about Innovate UK’s Proof of Market grant click here. To read case studies for clients we have helped through the grant click here for Rescon and here for ScannerFutures.

< Back