The £1 million Angel R&D Programme is focussed on backing scalable, innovative businesses throughout County Durham, Tyne & Wear and Northumberland who are seeking investment and planning to undertake a research and development project.

The Programme will provide a grant to innovative businesses in any sector, who are undertaking Research & Development (R&D) projects lasting up to 12 months, comprising feasibility studies or industrial research. Grants are for £20,000 to £150,000 and can represent up to 50% of R&D project cost, therefore, R&D project total costs in the range of £40,000 to £300,000 are eligible.

The grants must be alongside investment in the company from private funds (equity or similar e.g. convertible debt), of which an amount equal to at least 50% of the grant size must come from angel investors.