If you have an innovative business idea and are based in the *North West area of Northern Ireland then this competition could be perfect for you!
Techstart Ventures has joined forces with The AMP to form the "LabTech Initiative" - a *North West specific Grant Competition offering Proof of Concept Grants up to the value of £10,000 each!
*North West - to be eligible for this competition you must be resident or have a company registered in one of the following postcode areas - BT47 / BT48 / BT49 / BT81 / BT82.
APPLICATIONS ARE NOW OPEN - APPLY NOW
Closing Date - Tuesday 28th March 2023 @ 5pm
THE DETAILS
Techstart Ventures and The AMP are excited to partner together to form the "LabTech Initiative". This is a grant competition for founders based in the *North West area of Northern Ireland, with an innovative business idea. Applicants can apply for a Grant of up to £10,000 to help kickstart their business. Whether you are an individual with an exciting, novel idea … or an established business looking to explore a new product or market … you could receive a grant to support your innovation. Eligible applicants must be resident or have a company registered in one of the following postcode areas of Northern Ireland - BT47 / BT48 / BT49 / BT81 / BT82.
How Do I Enter?
The LabTech Initiative Grant Competition is NOW OPEN for applications!
To Apply, all you need to do is complete our online Application Form (APPLY HERE) and submit by the Closing Date (5pm, Tuesday 28th March 2023).
Once the Closing Date has passed, and all Application Forms received, Techstart will complete an eligibility check on each application. If your application is eligible, you will be invited to present your Business Idea to a Panel.
Competition Schedule:
MORE INFORMATION & GRANT APPLICATION CRITERIA:(If you require further information to what has been provided in the criteria above and below, please don’t hesitate to contact Techstart via grants@techstart.vc and one of the team will arrange a call to discuss any queries you may have, ahead of the Application Closing Date.)
What’s the overall objective? This LabTech Initiative will seek to support founders in the *North West area of Northern Ireland with a grant directed towards exploring the viability and commercial potential of their innovative business idea.
What form does the Funding come in? Grants of up to £10k. (Grants of different values may be awarded, but the maximum grant awarded to any one applicant will be £10k).
Are the Grants 100% funded? Yes, up to the limit mentioned above.
What are the criteria to apply for the LabTech Initiative?
Do I need to provide any additional information to the supporting quotes from my chosen suppliers?
In addition to the application form and supporting quotes from suppliers, Techstart may request further information or documentation before a decision on your application is reached.
Should I apply as a Sole Trader, a Partnership or a Limited Company?
All of the above are eligible, however if you are applying for part of the grant to cover employment costs then you can only apply as a Limited Company. It is vital to note that if you are successful the grant will be awarded to the entity that applied for the grant. This will be the entity that will have to incur the costs as the grant is paid in arrears to the applicant.
Can the Grant be used to cover employment costs?
Yes - however, if you are applying for employment costs to be covered within the grant please note the following -
What activities are Eligible within the Grant?
Eligible activities for support include but are not limited to:
What activities are Not Eligible within the Grant?
Non-eligible activities include but are not limited to:
Who can I use to undertake Grant related activities?
Applicants can appoint an independent third-party supplier who they deem to be most suited to undertake the proposed work provided they are completely independent of the applicant/entity applying for the grant e.g. have no relationship or directorship in the company.
What happens if my application is successful?
If your application is successful, you will be notified via email and invited to a ‘briefing session’ to explain the process thereafter. Techstart will finalise an agreed plan of expenditure with you and clarify the claims process with you in advance of a Letter of Offer being issued.
If I am successful, how is the Grant money paid?
Grant payments will be made in arrears on submission of a project report and evidence of expenditure, relative to the agreed project plan of expenditure. This includes invoices & receipts from your suppliers and a copy of the applicant's bank statement showing relevant payments. An ‘End of PoC Project’ meeting is required to take place before the final instalment of the grant is released. If you have been awarded a portion of the grant for employment costs, then you will be required to submit self-certified timesheets with a daily rate of up to £200. Further information on the claims process will be provided if your application is successful.
If my application is unsuccessful, will I be given feedback?
Feedback will be available following your pitch if requested.
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