10 Steps to Securing Grant Funding
A question my Co-Founder and I are repeatedly asked is, how do you manage to get so many grants? With two Innovate UK smart grants c.£250k each, plus several smaller awards from independent providers under our belts, we can honestly say that we’re well versed in attaining free cash. And now, more than ever, grants have become invaluable resources. Over the next few months, we are predicted to see an unprecidented recession caused by COVID-19 which means securing early-stage funding is going to be exceptionally difficult, and it’s already pretty hard.
So how do we do it?
The simple answer is pure hard work.
The long answer, well, that will take a while to go through. To make it digestible, I’ve created 10 steps for success.
Step 1: Read the brief
Sounds obvious, but you’d be surprised at how many people don’t do this. It’s like reading the instructions before you start building a new piece of furniture. Nobody wants to get to the end and realise they forgot to insert a small but integral part at the beginning (we’ve all been there, thank you Ikea!). So it’s the same with grant funding, ensure you know the brief inside and out before you start writing your application.
Step 2: Read the brief again
I cannot emphasise this enough. You need to make sure you understand every line of the brief. If there is something you don’t understand or need clarity on, then get in touch with the grant provider. In my experience, they are always willing to help and will often update the brief to include any common questions or concerns.
Step 3: Start with the appendices
Most applications require you to submit additional appendices to support your answers. Always start with these as chances are, you might have them anyway. For instance, some applications require you to send a pitch deck or a video demo of your product. Others, like the Innovate UK Smart Grant, require detailed project plans, risk registers and team structures. Starting with these helps to structure your answers to their questions and gives the application…