Research and Development Funding for Large Companies

An £15m Yorkshire Forward scheme that encourages large companies in Yorkshire and Humber to carry out new research and development projects by providing funding support now open for new applications.

A breakfast briefing session for business support intermediaries and companies interested in applying will take place on 1st July at Hotel St Pierre in Wakefield at 8am. The session will outline the objectives of the IRD scheme and the application criteria.

Alex McWhirter, Assistant Director of Business at Yorkshire Forward explains;

œIn a climate when companies of all sizes are struggling to access finance for new developments, this financial support will help our regional businesses retain their competitive edge.

œThe purpose of the IRD scheme is to provide an injection of finance for a project that will accelerate its progression to market, allowing the company to expand or access new markets, whilst mitigating some of the investment risk associated with new product development

To qualify for the scheme companies must be based in the region “ or planning to invest “ and will need to collaborate with another company or knowledge base on their project.
The proposed research and development project must have a total project value of between £650k and £2.5m and must last between one to two years.

Previous recipients of IRD support include healthcare specialist Tunstall, who worked with Barnsley Hospital to develop their next level of telecare support. They used their R&D grant to develop ADLife “ a system of sensors that can be placed around the home and monitor daily patterns of movement, medication and nutrition. These patterns can then be used to trace any improvement or decline in a user™s condition and if an individual becomes ill, the system will raise an alarm.

Mike Hodges, Research and Development Director at Tunstall explains; œWith the grant from Yorkshire Forward we have been able to explore new areas of technology which enables individuals to stay in their home for longer, which makes them happy as they™d prefer to be living independently rather than in a care home. It is also more cost effective for the Local Authorities.

Companies wishing to attend the IRD briefing or apply to the grant scheme should visit www.yfird.org  

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