The Images Group have just received notification from Business Link about changes to the way Innovation Vouchers can be used. Our clients who are currently in the process of applying for Innovation Vouchers will not be affected, this only applies to applications made on or after March 3rd 2010
3 March 2010
New eligibility criteria for Innovation Vouchers
What has changed?
To ease confusion about eligible projects for Innovation Vouchers, we have agreed with One North East to clarify the criteria for this fund. This clarity should help you to better identify which project referrals would be eligible for Innovation Vouchers and those which may be more appropriate for other funds e.g. Innovation, Advice and Guidance.
The revised criterion for Innovation Vouchers is below:
Innovation Vouchers help small and medium sized established businesses in the North East research and develop new ideas for commercial exploitation i.e. activity resulting in a new product or service being taken to market.
By established businesses, we mean a business which is trading and has made a sale.
An Innovation Voucher could be used to:
- Research new markets (for new products or services)
- Design or develop a new product or service
- Design or develop new or improved production processes
- Carry out an innovation or technology audit1
- Experiment, test or measure.
1 Technology audit:
As part of the research and development phase of a new product, service or new working practices. An assessment to determine the adequacy and integrity of controls in information processing systems, including hardware, software solutions, information management systems, security systems and tools, communications technologies.
Innovation audit:
As part of the research and development phase of a new product, service or new working practices. The innovation audit is a method to improve innovation by examining key indicators to determine strengths and weaknesses and identifies ways of improving innovation throughout the organisation e.g. SWOT analysis in production processes.
- The activity must be new.
- An applicant can only receive one Innovation Voucher.
An Innovation Voucher could not be used to:
- Design or develop a website2
- Design or develop a product or service where it is using the standard application of an existing technology2
- Design or develop internal non-production processes such as HR, marketing, finance, ICT2
- Support the marketing of a product or service2
2 These activities may be eligible for support through other Solutions for Business products including Innovation Advice and Guidance.
The following are not eligible for support:
- Existing projects and activities with Knowledge Based Institutions (KBIs) are not eligible for support. University spin out companies as they are by their nature already engaged with the knowledge base
- items or costs which are required by law
- VAT.
When will this change come into effect?
As of today (3 March) this new criteria should be used when ceding Innovation Voucher referrals into the Business Link and North East England Investment Centre services.
For those projects that are already being progressed, applications against the old criteria will be accepted until 31 March 2010.
Where can I find out more information?
If you have any questions about this, please contact Business Link on 0845 600 9 006 or email enquiries@businesslinknortheast.co.uk
