Innovation Voucher Scheme

Introduction to the Innovation Voucher scheme

If you own or manage a small or medium enterprise (SME) based in the West Midlands, you can apply for an Innovation Voucher worth up to £3,000.

The voucher can be used to purchase academic and research support from any of the 13 Universities in the West Midlands.

The Innovation Voucher scheme aims to increase the transfer of knowledge between universities and businesses, and boost innovation in SMEs. Innovation is not just about technology, but also the management of the innovation process. It is about doing things differently to improve effectiveness and efficiency.

Please visit the website to find out how the scheme could help your company, and read case studies from other companies.

The Innovation Voucher scheme is part-funded by Advantage West Midlands (AWM), Economic and Social Research Council (ESRC), Engineering and Physical Sciences Research Council (EPSRC),  the European Regional Development Fund (ERDF) and the Higher Education Funding Council for England (HEFCE).

For more information, visit the Innovation Voucher scheme website or contact their Advice Centre team on 0121 204 3883 or email enquiries@innovationvouchers-wm.com

Innovation Vouchers Logos

How could the Innovation Voucher scheme help your company?

There are many ways you could use an Innovation Voucher to help your business, including:

  • business and leadership expertise during these challenging economic times
  • improving the effectiveness and/or efficiency of your business or technological processes
  • product and service testing and economic impact assessment
  • supply chain management and logistics expertise
  • tailored training in innovation management
  • development of new service delivery, customer interface or business models
  • innovation, technology or efficiency audits

Case studies 

McBurney Scientific was introducing a new product based on their robust sensor for continuously monitoring soil moisture and temperature. They wanted help to develop their future business model and marketing plan.

Through the Innovation Voucher scheme, McBurney enlisted the support of Dr Brigitte Nicoloud and MBA student, Vikash Aggarwal, who identified the perception of the product amongst farmers, determined the potential demand for the product, and devised a pricing structure and marketing plan.

Pinstripe Print Group is a print and print management business based in the centre of Birmingham. They wanted help examining how they could streamline their supply chain management procedures and offer innovative ways to interface with their customers.

Staff from Aston Business School’s Operation and Information Management Group spent 20 days working with Pinstripe senior managers, shadowing customer facing staff and working closely with customers to redesign critical customer service processes.

Read more case studies on the Innovation Voucher scheme website.

Vouchers are available in rounds as funding becomes available. Each voucher is worth £3,000.SME’s are required to pay the VAT on the voucher.  We expect the next round of voucher to be available from the 1st October to the 18th October 2009.

If you need any help or advice about your application, or to find out more about the scheme, visit the Innovation Voucher website, or contact their helpful Advice Centre team on 0121 204 3883 or e-mail enquiries@innovationvouchers-wm.com

Employable Graduates; Exploitable Research