FAQs

What is an Innovation Voucher?

An Innovation Voucher is £2,500 of part-funding offered to eligible companies by the European Regional Development Fund (ERDF) to spend on business innovation and growth activities. They are distributed through an Innovation Voucher scheme managed by a partnership comprising of Aston University and Birmingham City University.

To apply for an innovation voucher please fill out the contact form

How do Innovation Vouchers work?

The aim of an Innovation Voucher is to help your company develop new systems and processes to improve your business growth efficiency and drive the innovation needed to bring new products and services to market. Innovation Vouchers enables you to:

Fund collaborations with external expertise within knowledge base organisations (research institutes) to deliver on your innovation and business growth project objectives. Access free support in the form of Innovation Workshops to make your company more competitive and able to manage business innovation and growth more effectively.

To apply for an innovation voucher please fill out the contact form

What is the value of an Innovation Voucher?

The typical value of a Innovation Voucher is £2,500.  The value of an Innovation Voucher is decided on a case-by-case basis during the application stage.

To apply for an innovation voucher please fill out the contact form

What financial input will I need to provide?

The Innovation Voucher is offered as part-funding only. To receive this part-funding you will be required to match the value of the Innovation Voucher with a £1 contribution to every £1 received. With the typical value of a voucher being £2,500, you would be required to also contribute £2,500, creating a total business innovation fund of £5,000.

To apply for an innovation voucher please fill out the contact form

How do I get an Innovation Voucher?

To discover how an Innovation Voucher can part-fund innovation and business growth for your business or organisation contact our partner team at:

Aston University
www.aston.ac.uk/innovation-vouchers

Birmingham City University
www.bcuadvantage.co.uk/innovationvouchers

To apply for an innovation voucher please fill out the contact form

Can one business apply for more than one Innovation Voucher?

Unfortunately each business is only eligible to receive one voucher.

To apply for an innovation voucher please fill out the contact form

When will the grant funding be paid to me?

The Innovation Voucher will be paid to the SME on completion of their project, once evidence of the work has been provided and full payment has been made by them to their supplier (up to 30 days after receiving all evidence from the SME).

To apply for an innovation voucher please fill out the contact form

How much time should we plan to complete our project?

It is expected that each of the projects the project supports should last no longer than 1-3 months.

To apply for an innovation voucher please fill out the contact form

Is there a deadline to apply for the Innovation Voucher?

The deadline for submitting Innovation Voucher applications is December 2018, however the Vouchers are proving to be popular and are awarded on a first come first served basis.

To apply for an innovation voucher please fill out the contact form

Would my project idea be eligible for an Innovation Voucher?

A list of eligible activities and business can be found on Eligible Activities, if you need to speak to an advisor to discuss your project – please contact the Innovation Vouchers team at either Aston University or Birmingham City University.

To apply for an innovation voucher please fill out the contact form

Is my business suitable for this time of Grant Funding?

Most business sectors are eligible. Unfortunately, we can’t accept Innovation Voucher Applications from businesses that are part of the following sectors;

  • Finance/Investments
  • Retail
  • Insurance
  • Healthcare
  • Education
To apply for an innovation voucher please fill out the contact form