FUNDING FOR COLLABORATIVE R&D – GO FOR IT! Aquapharm’s success in getting funding for collaborat
Released: Tuesday 18th December 2012
Aquapharm is a small but innovative Scottish life sciences discovery company pioneering the development of breakthrough products founded on the vast, untapped chemical diversity of marine micro-organisms. The company's goal is to harness this novel resource to rapidly discover and develop novel pharmaceuticals able to target unmet clinical needs in oncology and multi-drug resistant bacterial infections.
To do that Aquapharm needs to undertake a lot of R&D with universities and other companies, which represents a big overhead for a small company. But over the last decade, Aquapharm has been very successful in obtaining public sector funding to support collaborative R&D. Since 2006, it has been given 7 grants by the Technology Strategy Board (TSB) by responding adeptly to TSB calls, and has also been successful at getting EU money under the FP7 programme.
· Watch for calls for applications – register for email alerts from Enterprise Europe Network Scotland, Scotland Europa, TSB or the Commission.
· Look at the funding call carefully and ask yourself the question – are we doing things in this area already? Do we already have IP or the technology to contribute to the R&D being sought? Can my company specifically deliver exactly what is being looked for by the fund call? If it’s a stretch of the imagination to honestly say yes to these questions, then don’t apply.
· Assign responsibility for the application to one person in the company who can co-ordinate it from end to end.
· Read the instructions carefully; all the information on how to achieve a successful grant is written clearly. The key success factor is your business case - make sure it stacks up.
· Answer the questions honestly – a fudged answer sticks out a mile to experienced assessors.”