As the coronavirus pandemic continues and lockdown endures, the economic outlook for the UK remains uncertain, with some analysts predicting that it could take our economy up until Q1 2023 to recover to pre-crisis levels – and that’s assuming a ‘quick recovery’ scenario.
However, even in the midst of a pandemic, business innovation can still find ways to thrive with the help of government funding and subsidies.
Despite the obvious challenges of 2020, we are proud to say that 55% of Grantify clients who applied for funding with us in 2020 were successful in their application.
Playing a part in helping businesses survive and even grow during hard times is one of the most rewarding parts of what we do.
So too is listening to our clients. We spoke to Barry Gooch, director of Montague-Sykes Ltd, a specialist software development company, who successfully applied for not just one, but two grants with Grantify in 2020 to learn what the process was like, and how the awards have helped his business.
Innovate UK Smart Grants Success: Montague-Sykes Ltd
Montague-Sykes Ltd received an Innovate UK Sustainable Innovation grant, and also an Innovate UK Smart Grant.
The Innovate UK Smart Grant – the UK government’s flagship grant programme awarding £125 million to British businesses every year, in any industry, for tech or innovation-based projects – is one of our most popular services, and for good reason. You could claim up to £2 million, without giving up equity or having to pay it back.
Did you know what funding was available?
Initially, Barry asked his accountant to find schemes they might be eligible for, who looked around and said they weren’t entitled to anything. A quick search themselves found the same result.
However, in just six months, Montague-Sykes has now applied for two grants through Grantify, and received both of them.
“It was a pleasant surprise as we’d been funding this out of our own pockets, so to actually get the grants was fantastic news.”
Would you have been successful applying solo?
Many companies have already tried (mostly unsuccessfully) to win awards before they approach Grantify. When asked if Barry thought they would have been successful on their own:
“If we’d tried to apply for the grant independently, there is absolutely no doubt in my mind that we would have failed.
“We would not have known how to answer a lot of the questions. We certainly wouldn’t have been able to produce the evidence required and wouldn’t have even thought of some of the things they required.
Without Grantify, there was no way we’d have got those grants.
Model answers and expert guidance – how we helped
Barry credits the straightforward yet thorough online process with his application’s success. Our platform uses model answers for detailed guidance, and includes multiple reviews by subject matter experts and professional editors.
“Grantify supports you through the whole operation of applying – and beyond. It starts with finding the right grant for you, then giving you access to their app and research tools, guiding you through the answers to the right questions. It also includes validating and improving the answers enabling you to submit a finished product.
“Applying for a grant is tough. I won’t disguise that. It was hard even with Grantify’s tool, and without it, it would have been impossible.”
Paying for help: worth the money?
Understandably, many small businesses are concerned about the cost of paying to submit an application. To that, Barry says:
“Although for an SME it might seem like a lot of money, if you’re successful in the grant, the amount of grant you get is many times more than the small initial outlay you make. You only pay half the fee before you make your submission, and your other half when you get the result. Actually, it doesn’t work out to be a lot of money at all.
“So take it from somebody like me, who is in the same boat as you, that if you try the Grantify process, there’s a very good chance that with their expert guidance you will be successful!
“We will definitely use Grantify again. We’re already signed up for their research and development tax credits and will look at grants again in the future through them.
“It’s been a fantastic relationship.”
Grow Your Business in 2021
Innovate UK Smart Grants are just one of our expert funding applications services. Every year, we help hundreds of businesses win grants, get tax relief and access other subsidies.
It can seem like a minefield if you’ve never applied for anything like this before, but you don’t have to go it alone.
We’re so certain of our ability to help that if you aren’t successful the first time around, we’ll help you submit a second application, absolutely free of charge.