Up to £20,000 worth funding will be allocated to each successful onboarded applicant as follows:
- 25% paid at the start, as long as applicants provide a business plan including: distribution and exploitation plan, finance and budget plan, timeline, confirmation of final team, technical and creative information, confirmation of match funders and investors, grating terms, contracts or contracting terms.
- 60% paid after demonstration of work in proof of concept progress displayed during a pre-arranged meeting with UKRI and Digital Catapult. 15% final payment of funding on provision of an updated business plan detailing distribution and exploitation strategies (including the possible business models) and demonstration of the final experience to a public audience.
For Digital Catapult to grant this funding we must issue and receive back a completed de minimis declaration from each company showing their culmination of de minimis awards over the last 3 fiscal years does not exceed €200,000.