Help for your next product developments

  • Published on 9th November 2021

PROSPER funding still available to help towards the development of new products, processes or services.

EU ERDF

Our ERDF PROSPER programme is designed to support new product development projects, including new service development and new process development.  Don’t be put off by the word innovation or ‘headline’ developments leading to groundbreaking ‘world firsts’.  Whilst we are very proud of these we are just as happy to support local businesses to implement small, incremental improvements.

We can offer grant funding towards the external costs that are required for the development of a named product/service.  The type of activity that may be funded is likely to involve some element of product/service design, prototyping, feasibility, proof-of-concept, product certification, IP protection, pilots/trials.  As well as completely new products it could include adapting existing products, systems and processes for use in different applications or introducing new processes or materials to the way you manufacture your products or deliver your services.

PROSPER Word Cloud close up

Examples of eligible forms of expenditure include:

  • Component parts required for prototyping
  • Research, design and specialits test services
  • IPR (Intellectual Property Rights) advice and support
  • IT hardware and software for product development, design and testing and to support systems integration and process improvement
  • Equipment for prototyping and new production processes

Support to improve your R&D capabilities:

We can support projects that aim to improve your internal capacity to innovate.  This can include grant funding towards equipment linked to research and innovation activities or to improve commercialisation of new products, such as laboratory, testing and measuring equipment.

We can also offer non-financial support to help you access the information, skills or knowledge that you need.  This includes 1 to 1 mentoring to help identify facilities, expertise and opportunities for collaboration with Loughborough University; sourcing information to support innovation plans; and access to new talent from our students and graduates.

For more details please contact The iNet team:

Email: inet@lboro.ac.uk

Phone: 01509364270

Twitter: @the_inet

LinkedInhttps://www.linkedin.com/company/the-inet