What could a £5,000 Innovation Voucher do for your business?

An Innovation Voucher is worth up to £5,000 (or the equivalent euro amount if used in the
Republic of Ireland) and allows small and medium sized enterprises (SME’s) to access
academic skills and expertise from one of the registered Knowledge Providers throughout
Northern Ireland and the Republic of Ireland.

The aim is to improve the innovation capability of your business and to build links between
public sector Knowledge Providers and the business community. If you would like help with
an innovation project, such as developing innovative products processes or services, you
may apply for an Innovation Voucher to access external expertise.

You can use an Innovation Voucher to get help in areas you do not have the expertise,
technology or facilities needed to progress a project or solve a business issue. They are
designed to encourage new, partnerships between businesses and a public sector
Knowledge Provider, such as a university, college, technology institution or research
organisation, and can help you avail of their specialist knowledge.

Medium sized businesses (with more than 50 employees) are not eligible for an Innovation
Voucher if they have received assistance from Invest NI’s Grant for R&D programme in the
last five years.

If you are awarded a Voucher, you have nine months to complete your project with the
Knowledge Provider from the date of issue. On completion of your project, you will receive a
final report from the Knowledge Provider and will pay VAT of 20% direct to the Knowledge
Provider. Invest NI will pay the Knowledge Provider directly up to a maximum of £5,000 (or
EURO equivalent).

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