Innovation grants available

£10k to turn bright ideas into products and services anyone?

The Innovation Networks scheme is offering grants of £10,000 to SMEs across the West Midlands who need help turning bright ideas into products and services.

£10k innovation grants available for West Midlands SMEsApplicants must fulfil the basic SME criteria (e.g. fewer than 250 employees, less than €50 million turnover) and also be part of an “Innovation Network” of a minimum of 3 West Midlands companies – suppliers or partners.

£10,000 grants are available in 2 forms: Revenue grants to cover development costs such as consultancy fees or prototyping and capital grants for expenditure on equipment, machinery or tooling.  Any projects submitted must have a minimum planned expenditure of £22, 500.

More details on eligibility and the grant application process are available on the Innovation Networks website.

This could be an excellent opportunity for any Black Country business to get financial help in bring products to market, and to “oil the wheels” in creating working partnerships with other companies.

To discuss the effective use of grant funding for your business give us a call on 01384 235549 or email us at


Lewis Smith & Co. – Stourbridge Accountants