This item was published during the term of a previous administration that ended in April 2007
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Support for 'smart' companies
27/03/2007
The latest stage in the Executive's plans to simplify grant support for ambitious Scottish companies was unveiled today.
Deputy First Minister Nicol Stephen gave details of the SMART: SCOTLAND scheme which will open for business at the start of April.
SMART: SCOTLAND brings together three existing schemes which support innovative research and development into one more straightforward programme offering an increased level of grants.
This is the second stage of the Executive's plans to simplify grant support for Scottish businesses. The first element, focused on a new tier of Regional Selective Assistance investment grants for SMEs, was introduced at the start of the year.
Mr Stephen said:
"This new scheme is at the heart of our determination to push forward a simplified grant structure for supporting Scottish businesses.
"The existing SMART, SPUR and SPURPLUS schemes for highly innovative research and development have been successful in their own right. Bringing them together under one improved and extended support scheme will bring positive benefits to hundreds of Scottish companies.
"In today's fast-moving economy, it is crucial that our businesses remain competitive. I recognise that it is often hard for our SMEs to find the resources they need to remain at the leading edge of their market. This is where SMART: SCOTLAND comes in.
"It will support SMEs right across Scotland to explore and develop highly innovative new products and processes.
"It can fund either technical feasibility studies or research and development projects. Firms will be able to apply for grant at any time and for the first time, the feasibility study element will be open to medium sized firms. The maximum grant ceilings will also be increased.
"I am convinced that SMART: SCOTLAND will be welcomed by Scotland's business and investment communities."
The new SMART scheme will see:
- an open application process for SMEs to all elements of the scheme (the current practice excludes medium-sized firms from feasibility studies)
- all applications treated on a non-competitive basis with applicants able to apply at any time (as opposed to the present 3-times per year competition for SMART Awards)
- the competitive element maintained with the best projects supported throughout the year receiving a separate presentation at an annual Award ceremony
- Grants will also be increased, with maximum levels for Feasibility Studies increased by 40 per-cent from £50,000 to £70,000, and maximum levels for research and development projects increased by 20 per-cent from £500,000 to £600,000
- An annual judging competition will select the very best projects supported throughout the year. These will be given a SMART Award in recognition of their exceptional technical merit and commercial potential
SMART aims to support the highest levels of R&D - projects with substantial levels of technical risk and which demonstrate UK levels of technological innovation.
The Executive recognises that this is only a small part of the R&D being carried out today by firms across Scotland. In the autumn, the third and final phase of our plans will bring together the existing support offered by Scottish Enterprise under their Small Company Innovation Support (SCIS) and R&DPLUS schemes with the Executive's collaborative SCORE programme.
Taken together, these will create a new general R&D grant for innovative developments at any level and open to small, medium and large firms alike.
Between them, the three existing schemes - SMART, SPUR and SPURPLUS - have seen more than 440 offers made to companies between 1999-2006, with a value of £48.7 million.