SMART (Northern Ireland Business Grant)

The Small Firms Merit Award for Research and Technology (SMART) programme in Northern Ireland gives funding and assistance to individuals and small businesses for research in the field of innovation.
Structure of Invest Northern Ireland.
SMART is one of a range of government–sponsored programmes run by Invest Northern Ireland. Daily business is conducted by an independent Board and overseen by the Government Minister for the Department for the Economy (DfE) . Invest NI is used to implement the government policy of stimulating new businesses in areas of high unemployment like Northern Ireland. SMART spreads the high costs and associated risks of research and development for new, innovation-based businesses, and so encourages their start-up.
Eligibility for awards.
In general, SMART is open to individuals, sole traders, partnerships, independent companies, or parts of a group that are both based or planning to be based in Northern Ireland and do not exceed certain size criteria.
Size of awards.
The awards are competitive, but if successful, applicants receive support of up to £45,000 at stage one carry out the research, and up to £150,000 at stage two of the programme over a 6-18 month period to help carry out their technical and commercial feasibility studies.
There is also a SMART Micro programme, designed for smaller projects. This offers funding of up to £10,000.
By 2006, £1m of grants was being given to applicants in Northern Ireland.