Launchpad Briefing 29th January 2014

Connecting people, creating opportunities

Launchpad ShortlistedMandatory Briefing Event

The Sharp Project, Manchester

29th January 201409:00 – 15:00


9:30: Introduction – Tom Clarke, The Sharp Project 9:35: Welcome – Sam Winder, Business Growth Hub and Matt Brown, Technology Strategy Board

9:45: Application Process – Technology Strategy Board team

10:30: Tea & Coffee break

10:45: Finance Forms - Technology Strategy Board team

11:45: Access to Finance –Warren Lunt & Graham Niven

12:15: Support Services Available – Sam Winder, Business Growth Hub

12:30: Lunch

13:00: One to ones- Drop in sessions

15:00: Close


Introduction

Tom Clarke

The Sharp Project


Welcome

Sam Winder, Business Growth Hub

Matt Brown, Technology Strategy Board

Greater Manchester Creative & Digital Launchpad

Full Stage Briefing

January 29th 2014Jonathan Else, Competitions Executive

Agenda

Introductions

Scope

Questions & Answers (Scope)

Application Criteria & Process

Costs, Finances and Grant allocations

Je-S

The Way Forward

Questions & Answers (Process)

By the end of the briefing

You should have the best chance possible to do justice to your Full Stage application and understand the process which takes you to the deadline.

You should already have received your full stage application form and your EOI feedback was uploaded to your ftp site earlier on this week.

Today’s slides will be on the ftp site by close of business tomorrow

For more information...

[email protected]

Competition Helpline: 0300 321 4357

www.innovateuk.org

_connect Network: https://ktn.innovateuk.org

mailto:competitions@innovateuk

http://www.innovateuk.org/

https://ktn.innovateuk.org/

Greater Manchester Creative &Digital Launchpad Stage 2 BriefingMatthew BrownTechnologist, Creative IndustriesTechnology Strategy Board

Congratulations!

1

Stage 1 – Video Upload 2

We said your 2 minute video should address:

• The challenge or opportunity being tackled and why it is important

• The approach that will be taken and how it is innovative

• The project’s relationship to the Greater Manchester creative and digital cluster

• How the solution will be commercialised and what impact it could have if successful

• Why the Technology Strategy Board investment is needed.

What is the Greater Manchester Launchpad?

3

Scope:

The technical scope for this competition is quite open. We will offer funding to creative and digital micro, small and medium-sized businesses wishing to undertake innovative industrial research projects. Industrial research is aimed at the acquisition of new knowledge and skills for developing new digital products, processes or services, or for bringing about a significant improvement in existing digital products, processes or services. We will also fund the creation of component parts for complex systems that are necessary for the industrial research, notably for generic technology validation, though we will not fund the creation of prototypes.

:

Application Process4

The competition is being run in three stages:

1. Video proposal – where applicants describe their idea in a two-minute video.

2. Written proposal – for invited applicants who are shortlisted, based on their video proposals.

3. Pitch Session - Top-ranking applications will then be invited to attend a pitch session where they will present their projects to a panel of experts.

Key Dates5

Competition Opens & Briefing 4 November 2013

Deadline for Video Applications Noon, 8 January 2014

Applicants informed of Stage 1 Results

24 January 2014

Stage 2 opens to invited applicants

27 January 2014

Mandatory Briefing for Applicants 29 January 2014

Written Application Deadline Noon, 12 March 2014

Applicants informed of Stage 2 Results

28 March 2014

Pitch Session 3 April 2014

Questions & answersScope

Application Process

Application Process – FULL Stage

• 2 minute video submission

• 10 question written application form

• Finance details for each partner

Expression of Interest Video

Assessment

Full Stage Written Application

Assessment& Panel

Expression of Interest Feedback

• You have received the comments from the assessors.

• These are meant to be constructive and useful in

assisting you to produce a successful application.

• Contradiction is meaningful – is your proposal as clear or

as well justified as you believe?

• Comments are NOT a check list of points which must be

answered or argued in the Full Stage application.

• If they are not useful then disregard the comment.

Application Form

Application Structure The Application is broken down into sections:Gateway: Scope Does the project fit the scope of the competition?

Section One: Business Proposition

What is the business proposition that you are trying to address and exploit?

Section Two: Project & Partners Details :

What will the project entail? Who are your project team members and what are their credentials?

Section Three: Funding & Added Value

Is the project value for money? Why do you need public sector funding for this project?

Finance Summary Table Table of project partners , each with project costs and the funding requested

Please refer to the Competition Guidance

Summary of proposed project

This part of the application is not marked

Abstract of Proposed Project (Not Scored)Question Guidance

Please provide a short summary of the content and objectives of the project including what is innovative about it.

This is an opportunity to provide a short summary of the key objectives and focus areas of the project. It is important that this summary is presented in reference to the main outline of the project, with sufficient information to provide a clear understanding of the overall vision of the project and its innovative nature. This abstract is not marked, but provides a summary of your proposal for the benefit of the Assessors.

Public Description of the Project

Public Description of the Project (Not Scored)

Question GuidanceIf your application is successful, the Technology Strategy Board will publish the following brief description of your proposal. Provision of this description is mandatory but will not be assessed.

To comply with Government practice on openness and transparency of public-funded activities for projects in receipt of grant, the Technology Strategy Board has to publish information relating to funded projects. Please provide a short description of your proposal in a way that will be comprehensible to the general public. Do not include any commercially confidential information, for example Intellectual Property or patent details, in this summary.

Whilst this section is not assessed, provision of this public description is mandatory. Funding will not be provided to successful projects without this.

This part of the application is mandatory but is not marked

How well does the project fit the competition?

Gateway Question: Scope

Key Points:• “must align”• “clear majority of the

project’s objectives and activities”

Don’t write yourself out of scope...!

All questions are equally weighted (10 marks per question)

Section 1:

The Business PropositionQuestion 1 What is the business opportunity that this project

addresses?

Question 2 What is the size of the market opportunity that this project might open up?

Question 3 How will the results of the project be exploited and disseminated?

Question 4 What economic, social and environmental benefits are the project expected to deliver to those inside and outside of the consortium and over what timescale?

Section 2:

The Project DetailsQuestion 5 What technical approach will be adopted and how will

the project be managed?

Question 6 What is innovative about the project?

Question 7 What are the risks (technical, commercial and environmental) to project success? What is the project’s risk management strategy?

Question 8 Does the consortium have the right skills and experience and access to facilities to deliver the intended benefits?


Section 3:

Funding and Added ValueQuestion 9 What is the financial commitment required for

the project?Question 10 How does the financial support from the

Technology Strategy Board and its funding partners add value?


Finance Summary Table

Project cost summary(for each project participant)1. Organisation name2. Organisation registration number3. Enterprise category4. Postcode5. Contribution to project by each organisation6. Funding sought from the Technology Strategy

Board7. Other funding from public sector bodies8. Total

AppendicesAppendix GuidanceAppendix AUp to 5 sides of A4

Use Appendix A to provide additional information to support Section 1 of the application form: The Business Proposition. You may wish to include graphics describing the nature of the problem, market dynamics and/or exploitation plans.

Appendix BUp to 5 sides of A4 (7 sides of A4 for academic and business applications)

Use Appendix B to provide further information to support Section 2 of the application form: The Project Details. You may include, for example, a Gantt chart, risk analysis table, project management structure and/or details of evidence for innovation.

Academic and business applications may submit an additional 2 A4 sides for additional assessment information such as the Pathways to Impact. Please refer to separate guidance on your Project Costs for more information using the link below.

Appendix CUp to ½ side of A4 for each partner and subcontractor

Use Appendix C to provide details of the specific expertise and track record of each project partner and each subcontractor to address Question 8 of the application form. Academic collaborators may wish to refer to their research standing.

All applications are assessed by independent reviewers drawn from industry and academia

Application Assessment

What do they look for?

• Clear and concise answers• The right amount of information

• not too much detail • no assumptions

• Quantification and justification • That the applicant has the right

people with the right bright idea and the means to exploit its potential

Competition Eligibility

Type of Competition 2 Stage

Project composition Individual SME or consortia or SME’s within cluster

Funding available Up to £1m

Project Size £100k - £120k (indicative)

Approx % Funding for business Up to 60%

Anticipated Project length Up to 12 months

Application form 10 marked questions

Key dates for full stageTimeline Summary Dates

Stage 2 opens (for invited applications)

27 January 2014

Feedback to successful applicants 31 January 2014

Submission of Full Application – including Je-S submission, finance forms & appendices

Noon 12 March 2014

Applicant Pitch Session 3 April 2014

Decision to applicants Close of business 18 April 2014

[email protected]


www.innovateuk.org





Funding

Funding

• Funding Rules– The level of funding awarded will depend upon the type of

organisation and the type of research being undertaken in the project

– Funding is calculated by project participant– Levels of participation

• Definition of collaboration• Minimum grant• Project Costs

What is collaboration?

In all collaborative projects there must be:

• at least two collaborators

• evidence of effective collaboration (see guidance)

– Typically this could mean that no one partner would be taking more than 70% of the eligible costs, and we would expect to see the structure and rationale of the collaboration described in the application.

Minimum grant changes

If partner wishes to collaborate but does not wish to claim a grant:

• role and work should be in application as for all other partners

• partner name and total costs (contribution to the project) must be included in the finance summary table.– Enter zero grant requested in finance summary table

• no partner finance form required• not be named in the offer letter if your project is

successful

Worked example – £100k total cost project:Project costs for 2 SME partners

Total Funding Limits

Total Eligible Project Costs

Maximum % of eligible costs which may be

claimed as a grant TSB GrantProject

ContributionBusiness SME £65,000 60% £39,000 £26,000Business SME £35,000 60% £21,000 £14,000Total £100,000 £60,000 £40,000

Project costs

• Each SME partner must complete:– Eligible Project Costs for each applicable category– Partner Finance Form

Eligible Project Costs (applicants / non-academic partners)

Labour Costs Overheads Materials Capital Equipment Usage Sub-Contracts Travel & Subsistence Other Costs

– Other eligible direct costs not included in the above headings Contributions in kindIP filing costs up to £5,000 (SME only)

Labour CostsEligible:-Staff working directly on project.-Paid by PAYE-NI, pension, non-discretionary costs.

Ineligible:-Dividends-Bonuses-Non productive time

Overheads – 3 ways to calculate-20% of Labour Costs.-Overheads calculator-Own calculations

Eligible Overheads

Indirect labour costs– Board & senior management – the percentage of their time where

they are involved in your projects but are not included as individuals in the direct labour costs

– Admin and support staff – where not included in direct labour costs

Recruitment costs General supplies and IT – not linked to production or service delivery

Corporate fees and expenses – IPR maintenance, insurance, photocopying

Site expenses – building rental, taxes, security and cleaning

Utilities – careful not to include production equipment energy or supply costs

Material Costs

• Once ‘Yes’ is selected from the drop down option the table will appear

Eligible:-Directly used in the project

Capital Equipment usage

Eligible:-Used in the project or shared with day-to-day production-Re sale value

Sub-Contract costs

Eligible:-Justified and quantified-UK based

Travel & Subsistence Costs

Eligible:-Directly linked to the project

Other Costs

• Once ‘Yes’ is selected from the drop down option the table will appear

-Costs that could not be added under previous headings.

-Do not double count

Ineligible Project Costs

Χ Input or Output VAT Χ Interest charges, bad debts, profits, advertising, entertainmentΧ Hire purchase interest and associated service chargesΧ Profit earned by a subsidiary or by an associate undertaking

work sub-contracted out under the projectΧ Inflation and contingency allowancesΧ The value of existing assets such as IPR, data, software and

other exploitable assets that are contributed to the project by any collaborator

Χ Independent Accountant’s Report Fees

Partner finance forms

• Each partner claiming a grant must complete a Partner Finance Form.

• Figures on the individual Partner Finance Forms must total the same as those shown on the Finance Summary Table on the application form.

• The form includes a tab for each cost category which needs to be completed. The figures in each cost category tab populates the summary/total fields.

• Form must show the status as “complete” before submitting.

Submitting your application & the way forward

The application submission process

Take your time, use all space provided3COMPLETE documents

- Finance Forms- Model collaboration agreement- Example conditional offer letter

2 DOWNLOAD documents

Don’t leave it to the last minute. Do it early!4UPLOAD

documents

On date provided5NOTIFICATION

received

Within 4 weeks of receiving your notification6FEEDBACK received

1 REGISTER Via competition website

Public area

Click Login to access the Secure area

• Naminga) Your documents should contain your unique application number

(e.g.: App12345.docx)

b) Appendices begin with APPENDIX and supplied in PDF format.

• Formata) Application Form submitted as a Word file (.doc /.docx)

b) Finance Forms submitted as Excel file (.xls /.xlsx)

c) Appendices submitted as PDF file

Check: your application number matches your login username number.

Secure area

Enter your login details and accept the T and Cs. Click the Login button at the bottom.

Click Upload and follow the on-screen instructions.

Technology Strategy Board Successful Applicant

The Project may not start until the organisation has received and returned signed acceptance of the Grant Confirmation Letter

Conditional offer letters will be issued

3 – 4 weeks after notification

Return documents stated in conditional

offer letter

Submit financial forecast and

detailed project plan

Financial cost review and

viability checks

Issue Grant Confirmation

Letter

Sign & return Grant Confirmation Letter

with project start date

Issued for both successful and unsuccessful applicants within 4 weeks of receiving your notification

Word document

Uploaded to your secure area

Not issued via email

• To be returned within the deadlines stated within the offer letter

• Original agreement signed by all participants• Key Features:

– Who is in the Consortium?– What are the aims, and how is the work divided up?– Ownership of IPR– Management of consortium

Note: Negotiating a Collaboration Agreement can be complex and time consuming. Start work on this at an early stage in the process, ideally before submitting your full application.

Collaboration agreement

• Requirement for successful projects• Expectation that each partner has one representative to

attend the workshop• Outlines process requirements (how to raise a claim etc)• Opportunity to meet your Monitoring Officer

New projects workshop

Grant claims & payments

• All grants are claimable quarterly in arrears• Claims can only be made for costs incurred and paid between the

project start and end dates• Claims may be subject to an independent audit (including all

academic partners) according to grant size• Claims are only paid once quarterly reporting and necessary audits

are complete• Projects are monitored according to project size – on a quarterly

basis including a visit from the appointed Monitoring Officer• The monitoring will be carried out against a detailed project plan and

financial forecast

For more information...

[email protected]


www.innovateuk.org





Q&A

Thank you & Good Luck

Finding Your Match

Follow on support for successful candidates.

Objectives

•To provide a structured support & mentoring program with a view to accessing match funding•To ensure that businesses are credible & investment ready prior to presenting to investors.•To ultimately increase your chances of successfully raising match funding in order to unlock your TSB grant award.

Support & Mentoring

• Identify your business objectives and plans.• Establish a funding proposition and the tools available to you to minimise risk .• Identify the relevant funding providers and agree an action plan• Where applicable work with fund managers to understand where the business proposition needs to be now and perhaps down the line.• Mentor you through the process of pitching to Business Angels and Seed Funders.

A Solid Proposition

• Draw on the validation obtained through the Launchpad process and any other traction generated to date.• Build a proposition around credible management team, size of market, route & time to market and establish the business model upon which you will operate.• Business Plan & Financials• An investment summary• Investor Pitch• Leverage SEIS and EIS to minimise investor exposure

Accessing The Funds

• Invitation to present to the NW Business Angel Network• Circulation opportunity to the wider networks including YABBA and Seneca Partners• Where syndicates may form there may be opportunity to leverage the Angel Co-Investment Fund• Engage with The NW Fund – D&C, David Smith• If suitable we can utilise relationships with crowd funding platforms

Thank you! Any Questions

[email protected] 237 4413

mailto:[email protected]

Access to Finance

How we can Help

Bubbles !

Use Access to Finance

• We are a free service• We know loads about funding• We can help you find the right

source(s) of funding

• Use Us !

What you need to do!

• Product• Market• Marketing• Operations• Get Lucky

Get Lucky !

•C22H30N6O4S

The Funding Bubbles

Banks BFSNorth West Fund

Asset Finance

Invoice Finance

Crowd-funding

MAVENPensionfunding

What we will do for you

• Review your figures• Question your figures • Help you with your Business Plan• Research the funding options available• Introduce you to the right funders• Support you in meetings with funders

• All with the aim of getting you funded!

The Team• Sarah Prakash• Caroline Martin• Warren Jonathan• Graham Ian• Akshay Steve• Maria• Beth-Louise

All you need to know!

• Call – 0161 359 3050• [email protected]

mailto:[email protected]


Support Services Available

Sam Winder

Business Growth Hub


Welcome to the Hub

Access to Finance

We work with ambitious businesses thatwant to grow their bottom line, share their

experiences, boost their profile, find partners and create new business growth

Growth Start – Growth Team- Digital Growth - MentoringAccess to Finance


Business Growth Hub

Strategic development

planning & support for ambitious businesses.

Delivered by Business People for

Business People

Intensive programme of

support for those establishing a

growing a business

Growth Team Growth MentoringGrowth Start

Helping to make companies investment readySupporting the process of obtaining appropriate funding

Single point of contact for variety of funding types/funders

Access to Finance


Connecting you to our network

We are working with a world-class group of expert partners to support and grow

businesses in Greater Manchester and the wider North West.

Business Growth Hub


Business Growth Hub Partners


• Personal Growth Manager

• Tap in to our cluster

• Regular support events

The next steps…


Phone: 0161 359 3050

Email: [email protected]

Website: www.businessgrowthhub.com

@bizgrowthhub

Contact us to find out more!

http://www.businessgrowthhub.com/

Launchpad Briefing 29th January 2014

Technology

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