What happens if you are successful?

This section of the guidance for applicants describes what happens if your project is successful and granted funding.

Step 1 - Notification Email

You or your lead applicant will receive an email notification on or before the "decision to applicants" key date stated in the Competitions Details guidance. This will tell you if you have been successful in applying for funding. You will be able to access your assessor feedback within 4 weeks of notification.

Step 2 – Conditional Offer Letter

You will be sent a Conditional Grant Offer Letter following the email notification in line with the timescales stated. You will be asked to accept and return all required documentation within the stated timeframes. The Technology Strategy Board will also review your project costs to check that they are compliant with the funding rules, and that your business can manage the cash flow of delivering the project.

  • The following are examples of documents that may be requested in the Conditional Offer Letter:
  • *Collaboration Agreement, for collaborative projects, duly signed by all participants.
  • An initial Financial Forecast for each project participant / consortium member showing the anticipated spend, split quarterly throughout the life of your project.
  • A letter on your company headed paper confirming your BACS details for payment purposes.
  • A detailed Project Plan splitting the original project proposal into individual work packages.
  • A Milestone and Risk Register for the whole project showing key milestones with an allocation of the project costs assigned to each milestone, the key risks and how these will be managed during the project.
  • An Exploitation Plan for your project, containing further information where possible from that provided in the original application, setting out how your project team will exploit the results of the project.

Collaboration Agreement*

The Collaboration Agreement should be created between the project participants and it should incorporate the operation and exploitation of the outcomes of the project.

It can take some time to reach agreement on this document within the consortium participants, especially considering the involvement of applicants’ legal and finance departments. You are therefore strongly advised to allow sufficient time. An example of collaboration agreement can be found on the Lambert Agreement website at: http://www.innovation.gov.uk/lambertagreements .

Receipt of Documents

The project will be not be able to start until all documents have been received and all checks are satisfactory, and the project cost review and financial viability checks (Step 3 below) undertaken by the Technology Strategy Board have been completed.

Upon completion of these checks, the Technology Strategy Board will send you a "Grant Confirmation Letter". You will be asked to enter your project start and end dates, sign the letter and return it to the Technology Strategy Board.

Please note that you cannot start your project before you sign and return the Grant Confirmation Letter and that the start date cannot pre-date the letter.

Step 3 – Cost Review & Financial Viability Checks

After the Conditional Offer Letter has been sent, the Technology Strategy Board will undertake financial checks on each of the project participants. 

Cost Reviews

This review is to ensure that your project costs comply with the rules for the Competition and the State Aid requirements. A member of our finance team may contact you for further information on the detail in your finance forms. It is important that you respond quickly to any requests for additional information, as the project will not be able to start until this review has been completed satisfactorily.

Financial Viability Checks

In addition, the Technology Strategy Board will undertake financial viability checks on all industry partner organisations. These are based on the latest accounts filed at Companies House, but we may ask for additional financial information if a participant has not filed accounts recently. 

The purpose of the financial viability check is to establish:

  • that the organisation is able to bear the cost of the additional research proposed over an extended period of time since grant payments are made in arrears of actual costs incurred and paid.
  • the organisation’s ability to meet its current obligations, whilst at the same time participate in the collaborative research project.
  • the project’s impact on the organisation’s normal trading.

If an organisation fails one or more of the financial viability test criteria, or if specific funding ratios cannot be ascertained because of limited information or abbreviated accounts, or if you are not required to file accounts with Companies House, then additional information may be requested directly from you. This may be one or more of the following:

  • A set of management accounts.
  • Summary trading forecasts and a quarterly cash-flow forecast for the total period of the project’s planned duration.
  • Details of bank overdraft facility, bank loan or funding from other sources.

Step 4 – New Project Workshop

You will be required to attend a New Project Workshop, and if you are in a consortium one representative from each partner will need to attend with you. This workshop is compulsory before the project starts as it provides you with an opportunity to:

  • Find out about the project start-up process
  • Understand our expectations of you once the project is underway
  • Meet your project assigned Monitoring Officer (see below)
  • Ask any questions you may have

Monitoring Officer

Most projects are assigned a Monitoring Officer who will attend project meetings as well as report progress and issues to the Technology Strategy Board. Monitoring Officers also assist in the ‘start up’ phase of a project, helping you with all key documentation and ensuring the project starts off smoothly.

In general, the role of a Monitoring Officer is to:

  • Monitor compliance with the terms and conditions of the offer, including claims and auditing.
  • Report on project progress and escalate any issues that need resolving by us
  • Ensure that information is available to the Technology Strategy Board, for "programme" level review and impact evaluation.

Please note that the project management and reporting for a project is ultimately your responsibility and not that of the Monitoring Officer.

Claims & Auditing

You can only claim for eligible costs incurred AND paid between the project start and end dates. Any costs incurred or paid outside the project dates are ineligible.

Depending on the size of grant awarded, claims will be subject to an independent audit to confirm that the costs claimed are in line with the terms and conditions of the offer. The audit requirement will be stated in the Conditional Offer Letter.

All grants are claimable quarterly in arrears (unless otherwise stated in the grant confirmation letter) and will only be paid once the necessary reporting and audits have been completed. Claims are paid directly to each participant. It is important that you plan your cash flow requirements to ensure you can accommodate the funding required for the project.

Further Information

For further information on the Technology Strategy Board and the Competition, application, finance and assessment process, please refer to our Competition Website. This provides comprehensive information on the Technology Strategy Board including an up-to-date list of Frequently Asked Questions (FAQs);

Alternatively, contact our Business Support Group:

Email: Competitions@innovateuk.org

Tel: 0300 321 4357

Last updated on Wednesday 26 September 2012 at 10:02

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