Technology, research and development

Welsh Government Innovation Vouchers

Welsh Government Innovation Vouchers of up to £25,000 are available to help SMEs with all aspects of research and development of innovative products, including intellectual property costs. 

SMARTCymru Research and Development Funding

The Welsh Government can provide grant support for larger research and development projects from the feasibility stage through to launching new products and processes into the market place.

Tax reliefs

Generous tax reliefs for research and development expenditure are available from HM Revenues and Customs.

Tax credits are available for those businesses not anticipating to make a profit in the short run.

HM Customs and Revenue Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions and certain other innovations.  

Universities

Universities can provide help to businesses engaging in research and development activities.

Newport is home to the University of South Wales which works with local businesses on research and development

Further information available from Business Wales. 

Wales Technology Seed Fund

The Wales Technology Seed Fund invests in disruptive technology start ups, university spinouts and IP rich businesses moving towards commercialisation. Equity of between £50,000 and £150,000 can be provided. This fund is managed by Finance Wales.

Wales JEREMIE Fund

The Wales JEREMIE Fund can invest  between £50,000 and £5 million in technology growth businesses via a combination of debt and equity. The fund is managed by Finance Wales.