Finding the Right Funding Route for Your Product

Start-ups, new business owners and creators often approach a product design consultancy inspired and optimistic about realising their idea but restricted in their freedom by funding limitations.

Nonetheless, new product development covers an unimaginably broad array of sectors and with the constant growth of the field of new product development, the funding landscape continues to evolve and expand. Securing funding for design and development is the single biggest challenge faced by many innovators and given the range of funding sources now available, knowing where to focus your search can feel daunting. When different funding avenues all state their criteria is for “innovative ideas”, what does this really mean?

Understanding your funding options is made simpler by the fact that certain funding avenues are better suited to certain types of businesses and products. This means that understanding where exactly your idea falls can help you channel your funding pursuits in the best directions.

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Funding for Early-Stage Design

Design Foundations is a new £3m grant funding programme from Innovate UK to help businesses identify innovation opportunities and generate better propositions for desirable, useful and feasible products, services and business models.

The aim is to build collaborations between businesses looking for new ways to innovate, and designers with the creative tools to provide this insight. It means using design interventions to address critical business challenges such as:

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