Do you have an innovative technology with commercial potential? Are you facing technical challenges to develop your idea and need financial support to help you overcome them?

Well don't let good ideas go to waste - the grant for research could help move your technology a step closer to the marketplace.

- Micro Projects are simple, low-cost development projects lasting no longer then 12 months. The output should be a simple prototype of a novel or innovation product or process. A grant of up to £20,000 is available to businesses with fewer then 10 employees.

- Research Projects typically involve planned research or critical investigation lasting between 6 and 18 months. The result of the project could be new scientific or technical knowledge that may be useful in developing a new product or process. A grant of up to £75,000 is available to businesses with fewer than 50 employees.

- Development Projects involve the shaping of industrial research into a pre-production prototype of a technologically innovative product or industrial process. A grant of up to £200,000 is available for businesses with fewer then 250 employees.

- Exceptional Projects involve technology developments that have higher costs. These projects are likely to generate much wider economic benefits and must be recognised as strategically important for a technology or industrial sector. A grant of up to £500,000 is available to SMEs with a qualifying project.

Individuals, small or medium-sized businesses that are setting up a business or are already trading in England are eligible to apply for the scheme. Businesses based in areas that are classified for European structural funds may benefit from higher rates for grants.

To check eligibility details for the Research and Development grant and to find out more about the grant visit the East of England Development Agency website.