Since the early days of technology, government funding has been instrumental in funding innovation. Without government intervention, who knows if the internet would even exist (not to mention Apple, GPS, touchscreens – the list goes on). Bringing pioneering products and services to the market can take a long time, particularly when the fundamentals of the technology are still unclear, early pilots and prototypes can be complex and costly and applications and markets are uncertain at the outset. Therefore, early stage innovation can be a hard sell to commercial investors who want to see a relatively quick return on their investment.

 

This is where government steps in. By funding game changing innovation the government stands to gain a great deal, as well as the kudos of bringing world-class technology to the market, and the primary way the government supports innovation is through grants. Here’s what you need to know about grant funding for innovation projects…

 

To continue reading this article please click here https://labs.uk.barclays/innovation-grant-funding.