Business Wales SMART Capital Equipment Fund
Grants of up to £250k to support organisations to purchase equipment to improve R&D&I, circular economy, or productivity through innovative technology.
Aligned with the Innovation Strategy, this fund provides grants of up to £250k to support organisations in Wales to purchase equipment which increases any of the following:
- Investment in R&D&I capability and capacity.
- The use of recycled and re-used content in products or components or to extend the lifetime of products/materials through Circular Economy adoption.
- Productivity through adoption of innovative technologies.
Applicants will need to demonstrate that the proposed equipment will deliver transformational impacts such as:
- Ability to apply for competitive funding calls e.g. Innovate UK, UKRI, Horizon Europe, etc.
- Significant reduction in CO2 emissions
- Reduced waste
- Improved process efficiency
Who can apply?
- Businesses of any size
- Research Organisations
- Academic Institutions, including Further Education Colleges
- Third Sector Organisations
Grants of up to £250k @ 50% intervention will be awarded on a competitive basis. In certain cases, these values may be varied. The closing date for applications is midnight 30th November 2023. Any applications received after this date will be rejected.
Completed application forms and supporting documentation should be emailed to SMART.FIS@gov.wales before the closing date.
Awards will be announced no later than 18th December 2023.
How will applications be assessed?
Applications will be assessed against the following criteria:
- Alignment with the Welsh Governments Innovation Strategy Innovation strategy for Wales | GOV.WALES
- Alignment with the Well-being Future Generations (Wales) Act 2015 WBFG Essentials Guide (gov.wales)
- Level of innovation
- Potential impacts/benefits to Wales and the organisation
- Value for money
The ONLY eligible costs are the purchase of the equipment including delivery and installation; maintenance, warranties, hire purchase and software are excluded. Applicants must confirm, at the applications stage, that all costs can be incurred and claimed by the 31st March 2024.