What is the aim of the scheme?

How many applications are typically received?

In which areas must the proposed business lie?

Is my company eligible to apply?

Are there any regional restrictions?

Only small companies are eligible to apply, what is your definition?

How will my proposal be assessed?

What criteria do the panel use when assessing applications?

Can I reapply?

Further information

 

What is the aim of the scheme?
To improve the leadership skills of those managing engineering start ups and SMEs in the UK, through which we aim to support pursuit of excellence in engineering.

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How many applications are typically received?
This is a new programme so we cannot be sure of interest levels. Based on similar previous programmes, we expect the percentage of successful applications to be between 25% and 50%.

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In which field must the SME be operating?
Only leaders of engineering SMEs are eligible. Engineering is defined in its broadest sense, encompassing a wide range of diverse fields. If you are not sure if your company is in an engineering area please contact the scheme manager to check if you are eligible to apply.

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Are there any regional restrictions?
The company must be based in the UK and registered with Companies House. For multinational companies, the Head Office must be based in the UK and the measures above must apply to the entire company, not just the UK office.

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Only leaders of SME companies are eligible to apply, what is your definition?

Employees < 250 people

Turnover < £50 million per annum

Leader = CEO, Founder, MD, CxO

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How will my proposal be assessed?
All applications will be reviewed by an assessment panel consisting of Fellows of the Academy with entrepreneurial and industrial experience and representatives from the investment community. Applications will be reviewed against the criteria listed in the guidance notes. Please read the guidance notes carefully. Each application is assessed and scored by at least two members of the Panel. The panel then meet in person and discuss all the applications and their assessments, and select which applications will be awarded invited to interview. Performance at interview will then determine who is awarded.

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What criteria do the panel use when assessing applications?

All applications will be assessed against the following selection criteria:

  • Quality, ambition and vision of the applicant
  • Effectiveness and innovativeness of technology, product or service described by the applicant
  • The potential for that technology, product or service to grow in scale (evidenced in business model/plan or strategy document uploaded by the applicant)
  • Potential benefits to UK economy (such as job creation) and/or expected benefits to wider public
  • How the making of an award would contribute to excellence in engineering
  • Impact the award would have on success of the applicant, his or her company, and therefore potential impact on UK engineering sector and UK economic growth
  • The potential shown by the applicant to make valuable use of the award and implement learning points

 

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Further queries?

If you have any queries after reading the guidance notes and FAQs, please do not hesitate to contact us. All questions should be sent to the Enterprise team.