Innovation
There is plenty of support available to help businesses develop new ideas or improve processes or develop new products. To discuss these opportunities please call us on 01384 812001 or email us at: info@dudleybusinessfirst.org.uk.
Innovate UK
Innovate UK drive productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. With a strong business focus, they drive growth by working with companies to de-risk, enable and support innovation. Innovate UK also connect businesses to partners, customers and investors that can help them turn ideas into commercially successful products or services.
Innovation competitions
If you want to develop an innovative product, process or service, you may be able to apply for funding of between £25,000 and £10 million. Innovate UK runs funding competitions which can help you develop your idea and make it successful. Competitions are open for projects led by a UK-based company. We award funding to the winners of these competitions.
Knowledge Transfer Partnerships
The Knowledge Transfer Partnership (KTP) scheme helps businesses in the UK to innovate and grow by linking them with an academic or research organisation and a graduate. The academic or research organisation partner will help to recruit a suitable graduate. They will act as the employer of the graduate, who then works at the company for the duration.
The Manufacturing Technology Centre
The Manufacturing Technology Centre (MTC) develops and proves innovative manufacturing processes and technologies in partnership with industry and academia. The MTC’s areas of expertise are directly relevant to both large and small companies and are applicable across a wide range of industry sectors.
Corporation Tax: the Patent Box
The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions.
Find out how to apply a lower rate of Corporation Tax to profits earned from patented inventions and certain other innovations.
Research and Development (R&D) tax reliefs
R&D tax reliefs support companies that work on innovative projects in science and technology. It can be claimed by a range of companies that seek to research or develop an advance in their field.