Q: Can other public monies I have secured (InnovateUK, Research Councils, etc) be used to fund my project contribution?
A: No. A key reason for the existence of I4G programme is the encouragement of growth in the West of England economy through private sector investment. As a result, other public monies are not an eiligble form of match funding.
Q: How does a grant under I4G affect de minimis State Aid?
A: I4G falls under a separate EU State Aid mechanism (General Block Exemption Regulation) and does not impact de minimis.
Q: How does a grant under I4G affect my ability to claim R&D tax credits?
A: The whole of an SME's eligible R&D project costs - whether paid for by its own contribution or its I4G grant - attracts R&D tax credits at the 'large company' rate. For R&D outside of the funded project, the company can claim at the 'small company' rate.
Q: Can I use an I4G grant to part fund a capital expenditure project (new property/buildings, plant, equipment, etc)?
A: No. I4G supports R&D projects and any capital purchases need to directly relate to R&D activity.
Q: What is the time frame for the due diligence checks and will I be liable for additional costs associated with the process?
A: The time frame is dependent on the type of business and grant size.
Q: What is the cash flow profile? Will there be an upfront payment and then quarterly reimbursement?
A: Payments are quarterly in arrears. Your quarterly report will include details of costs incurred and associated evidence.
Q: Is there anything I need to be aware of with regard to VAT?
A: If your company is VAT registered the I4G fund will reimburse up to 35% of the net amount you spend. You will subsequently reclaim your VAT through your VAT return.