In Wales, you'll find dedicated guidance and support to help Wales based organisations achieve "innovation excellence".
What is Innovation?
To us, innovation means creating and applying new or improved technologies, systems or processes that improve your organisation or opens new markets.
This could include using knowledge and expertise to develop solutions to problems, improve efficiency or deliver value.
SMART Innovation Funding
SMART Innovation Funding is a discretionary grant programme across Wales delivering flexible RD&I support to help your organisation to become more competitive, increase sales and enter new markets.
If your organisation is looking to research and develop a new product, process or service – or significantly improve an existing one – our support may be right for you.
Programme Aims
- Increase business research and development (R&D) spending in Wales
- Boost innovation within Welsh business
- Attract competitive, business‑focused R&D investment into Wales
- Increase productivity in the Welsh economy
Further Information
SMART Innovation Funding is open to businesses of all sizes (micro, SME and large), Social enterprises, Knowledge- based institutions and public sector organisations.
Explore the eligibility criteria for your organisation below.
To be eligible, your activity must:
- Align with at least one of the programme aims listed above
- Demonstrate increased R&D capability and capacity as a result of the grant support
- Deliver a significant technical enhancement to current products, processes or services
- Have an active base of operations in Wales and deliver measurable economic benefits
- Be supported by a business plan plus evidence of financial viability or investment in the project
- Demonstrate that funding is critical for proposed R&D to proceed (non-SME organisations only)
Your project may be delivered independently, with a commercial partner or as part of a collaboration.
To be eligible, your activity must: .
- Align with at least one of the programme aims listed above
- Be based in Wales and deliver measurable economic benefits
- Support collaboration between businesses and knowledge-based institutions in Wales or internationally where relevant
- Be new, innovative or significantly different from your current research
- Be industry-focused
What we do not support:
- Applications from organisations without an operational base in Wales (although they can be partners in collaborations)
- Collaborative applications from knowledge-based institutions without business or industry partnership
- Applications where most of the R&D activity is being undertaken by third parties
- Work that has already started or where commercial contracts are already in place
- Applications where the end product will have a known adverse effect on the environment and or society
- Activity that does not align with Welsh Government policies
We prioritise projects in these key sectors:
- Digital transformation
- Net zero and decarbonisation
- Agri-tech, food and rural economy
- Creative industries and media
- Life sciences and biotech
- Materials and manufacturing
Interested in our Smart Innovation Funding and think you're eligible?
Complete the Business Wales contact us form, and a member of the team will be in touch to discuss your enquiry.