Product Manufacturing Incubator supporting businesses to turn their ideas into a reality

27 May 2022

The Product Manufacturing Incubator (PMI) is dedicated to supporting up-and-coming entrepreneurs, start-ups and businesses across all sectors with the expertise, tools and space to develop their product in a de-risked environment.

PMI provide access to the Manufacturing Technology Centre’s advanced manufacturing and research facilities, as well as its team of engineering and manufacturing experts PMI are also able to access additional funding supporting mechanisms for eligible businesses including Innovate UK REACH funding.

REACH funding, provided by Innovate UK, can be offered to any qualifying SME engaging PMI. If deemed eligible, SMEs can receive up to 50% funding for a project based on the amount of time allocated to a project.

For example, if after the initial discovery stages, it is decided that 12 days should be allocated to running the project, PMI and Innovate UK will fund 6 of those days meaning the business will only have to pay 6 days’ worth of fees.

To access the funding, you will be required to declare any other state aid that you may have received previously and be an SME as defined by the European commission.*

 

*To qualify as an SME as defined by the European commission you must employ fewer than 250 people and have an annual turnover of up to €36 million or a balance sheet total of no more than €18 million.

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Source: The Product Manufacturing Incubator