Transforming Accountancy, Insurance & Legal Services with AI & Data
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The document outlines the eligibility criteria and application process for an innovation funding service targeting projects in accountancy, insurance, and legal services utilizing AI and data. It details the necessary consortium structure, project costs, funding rules, and application sections while providing guidance on collaborations and project management. Key dates for application submissions and assessments are also specified to assist potential applicants.
Transforming Accountancy, Insurance & Legal Services with AI & Data
- 1. Transforming Accountancy, Insurance & Legal Services with AI & Data Applicant Briefing 05/06/2018 08/06/18
- 2. Barry Shaw – Head of InnovaIon funding and customer service Julie Brown – PorLolio Manager Welcome and Introductions
- 3. Eligibility Criteria ApplicaIon process – the InnovaIon Funding Service • Project details • ApplicaIon quesIons • Finances • Project costs – academic partners Funding Rules Assessment and selecIon Project set-‐up for successful applicants Q&A Agenda
- 5. Small Consortia Strand Large Consortia Strand Project Eligibility • be a UK based business, academic, charity, public sector organisaIon or research and technology organisaIon (RTO) • work in collaboraIon with other organisaIons in the project, unless you are an SME in which case you can work alone • Projects must contain an SME • carry out your project work in the UK • intend to exploit the results from the UK • be a UK based business, academic, charity, public sector organisaIon or research and technology organisaIon (RTO) • work in collaboraIon with one or more organisaIons. • carry out your project work in the UK • intend to exploit the results from the UK Project cost • Under £200,000 (single SME or CollaboraIve) • Between £200,000 -‐ £400,000 (must be collaboraIve and involve an SME) • £2-‐4 Million Project length Between 1 to 2 years Up to 2.5 years ApplicaIon form 10 marked quesIons Appendices Yes – for Q2, Q3, Q7 & Q8 J-‐eS output document (if applicable) Yes Competition details
- 6. • Business – Small/Micro, Medium or Large (EU definiIon) • Research OrganisaIon (RO): • UniversiIes (HEIs) • Non profit distribuIng Research & Technology OrganisaIon (RTO) including Catapults • Public Sector Research Establishments (PSRE) • Research Council InsItutes (RCI) • Public sector organisaIons and chariIes doing research acIvity Types of Organisation
- 7. • The aim of our State Aid scheme is to: • opImise the level of funding to business and • recognise the importance of research base to project • At least 70% of total eligible project costs must be incurred by business • The maximum level (30% of project costs) is shared by all research organisaIons in the project Participation Rules
- 8. In all collaboraIve projects there must be: • at least two organisa@ons claiming grant • a business or RTO-‐led consorIum, which may involve both business and the research base and • evidence of effec@ve collabora@on - we would expect to see the structure and ra1onale of the collabora1on described in the applica1on. What is collaboration?
- 9. Making more than one application and resubmissions • Large consorIa -‐ Any one organisaIon may lead on one applicaIon and can be a partner in any number of applicaIons. - Small consorIa -‐ Any one business may lead on one applicaIon and partner in a further 2 applicaIons. If a business is not leading an applicaIon, they can be a collaborator in up to 3 applicaIons. - An RTO or academic may be a partner in any number of applicaIons. • If an applicaIon is unsuccessful, you can use the feedback received to reapply for the same project into another compeIIon. • A project proposal can only be submifed twice
- 10. Timeline Dates Competition Opens 18th June 2018 Briefing Event 5th June 2018 Submission Deadline Noon: 15th Aug 2018 Interviews (for the Large Consortia Strand) WC 15th Oct 2018 Applicants informed 05th Nov 2018 Key Dates
- 12. Search for a funding competition and review criteria
- 13. 13 Applicant: create an account
- 14. 14 The application: invite participants
- 15. 15 Inviting and working with collaborators
- 16. ü Spell check using your web browser online guidance assign the quesIon to a collaborator Formagng for your content Word count Answering a question
- 17. 17 The applicaIon form Split into 3 SecIons: -‐ Project Details -‐ ApplicaIon QuesIons -‐ Your Finances
- 18. ApplicaIon process ApplicaIon – project details
- 19. Project Details (Sec@on 1) • Applica@on Details -‐ Title, Timescales, Research Category, Resubmission (y/n) • Project Summary -‐ Short summary and objecIves of the project including what is innovaIve about it • Public Descrip@on -‐ DescripIon of your project which will be published if you are successful • Scope -‐ How does your project align with the scope of this compeIIon? -‐ If your project is not in scope, it will be ineligible for funding and not sent for assessment.
- 21. ApplicaIon form QuesIon 1 Need or challenge QuesIon 2 Approach and innovaIon QuesIon 3 Team and resources QuesIon 4 Market awareness QuesIon 5 Outcomes and route to market QuesIon 6 Wider impacts QuesIon 7 Project management QuesIon 8 Risks QuesIon 9 AddiIonality QuesIon 10 Costs and value for money Appendix Q3 Appendix Q7 Appendix Q8 Appendix Q2 Please refer to the Compe@@on Guidance
- 22. 22 What is the business need, technological challenge or market opportunity driving your innova@on? Question 1: Need or challenge • What is the main moIvaIon for the project? • What is the nearest current state-‐of-‐the-‐art? Have you considered those near market and/or in development? • Describe any work you have already done to address this need. • IdenIfy the wider economic, social, environmental, cultural and/or poliIcal challenges which are influenIal in creaIng the opportunity. Our Horizons tool can help here: hfp://horizons.innovateuk.org/
- 23. 23 What approach will you take and where will the focus of the innova@on be? Question 2: Approach and innovation • How will you address the need, challenge or opportunity idenIfied? • Explain how it will improve on the nearest current state-‐of-‐the-‐art idenIfied • Where will the focus of the innovaIon be in the project and do you have freedom to operate? • Explain how this project fits with your current product/service lines/offerings • Describe the nature of the outputs you expect from the project and how these will take you closer to addressing the need, challenge or opportunity idenIfied You may upload an appendix PDF document (max 1MB, 2 A4 pages) of graphics/ diagrams to demonstrate the innova@on in your technology/product/service
- 24. 24 Who is in the project team and what are their roles? Question 3: Team and resources • Describe the roles, skills and relevant experience of all members of the project team • State the resources, equipment and faciliIes required for the project and how you will access them • Provide details of any key external parIes, including sub-‐contractors • (if collaboraIve) describe the current relaIonships between the project partners and how these will change as a result of the project • Are there any gaps in the team that will need to be filled? You may upload an appendix PDF document (max 1MB, 4 A4 pages) to describe the skills and experience of the main people who will be working on the project
- 25. 25 What does the market you are targe@ng look like? Question 4: Market awareness What is the market(s) (domesIc and/or internaIonal) that you will be targeIng in the project and any other potenIal markets? You should consider: • the size of the addressable market(s) for the project outcome(s) • the structure and dynamics of the market, and predicted growth rates within clear Imeframes • the main supply/value chains and business models in operaIon • the current UK posiIon in addressing this market For highly innovaIve projects, where the market may be unexplored, explain: • what the route to market could or might be • what its size might be • how the project will seek to explore the market potenIal For other markets, briefly describe the size and key features of those
- 26. 26 How do you propose to grow your business and increase your produc@vity into the long term as a result of the project? Question 5: Outcomes and route to market • What is your current posiIon in the market(s) and your route to market? • Who are your target customers and/or end users, and what is the value proposiIon to them? • Tell us how you will profit from the innovaIon and how it will impact your producIvity and growth • Describe how you will protect and exploit the outputs of the project • Outline your strategy for addressing the other markets idenIfied during or aner the project • For any research organisaIon acIvity in the project, outline your plans to disseminate project research outputs over a reasonable Imescale
- 27. 27 What impact might this project have outside the project team? Question 6: Wider impacts • What are the economic benefits from the project, to those outside the project? • Highlight the expected social and/or environmental impacts, either posiIve or negaIve • Explain any expected regional impacts of the project
- 28. 28 How will you manage the project effec@vely? Question 7: Project management • Outline the main work packages of the project, indicaIng for each: • The relevant research category • The lead partner assigned • The total cost of each package • Describe your approach to project management and the management reporIng lines • Outline your project plan in sufficient detail to idenIfy any links or dependencies between work packages or milestones You may upload a project plan/GanW chart in PDF format (max 1MB, 2 A4 pages) as an appendix
- 29. 29 What are the main risks for this project? Question 8: Risks • IdenIfy the key risks and uncertainIes of the project, including the technical, commercial, managerial and environmental risks • Explain how these risks will be miIgated • List any project inputs on the criIcal path to compleIon (such as resources, experIse, data sets) • Are the outputs likely to be subject to regulatory requirements, cerIficaIon, ethical issues, etc.? If so how will you manage these? You may upload a risk register in PDF format (max 1MB, 2 A4 pages) as an appendix
- 30. 30 Describe the impact that an injec@on of public funding would have on this project. Question 9: Additionality • Tell us if this project could go ahead without public funding. If so, what difference would the public funding make (such as faster to market, more partners, reduced risk)? • Describe the likely impact of the project on the businesses of the partners involved • Why are you unable to wholly fund the project from your own resources or other forms of private-‐sector funding? • Explain how this project would change the nature of the partners’ R&D acIvity (and related spend)
- 31. 31 How much will the project cost and how does it represent value for money for the team and the taxpayer? Question 10: Costs and value for money • JusIfy the total project cost and the grant being requested, in line with the project goals • How will the partners finance their contribuIons to the project? • Explain how this project represents value for money for you and the taxpayer. • JusIfy the balance of costs and grant across the project partners • Describe any sub-‐contractor costs and why they are criIcal to the project
- 33. Finances
- 34. Businesses and RTOs (non academic)
- 35. Labour costs Ineligible: • Dividends • Bonuses • Non producIve Ime Eligible: • Staff working directly on project. • Paid by PAYE • NI, pension, non-‐ discreIonary costs.
- 36. Overheads Innovate UK’s defini@on: AddiIonal costs and operaIonal expenses incurred directly as a result of the project. These could include addiIonal costs for administraIve staff, general IT, rent and uIliIes Indirect (administra@on) overheads • please ensure they are addiIonal and directly afributable to the delivery of the project Direct overheads • E.g. office uIliIes, IT infrastructure, laptop provision not covered by capital usage • must be directly afributable to the project • Provide detailed breakdown together with methodology/basis of apporIonment
- 37. Material costs
- 38. Capital equipment usage Eligible: • Used in the project or shared with day-‐to-‐ day producIon • Re sale value
- 39. Sub-‐contract costs Eligible: • JusIfied and quanIfied
- 40. Travel and subsistence costs Eligible: Directly linked to the project
- 41. Other costs Eligible: • Costs that could not be added under previous headings. • Do not double count
- 42. Your project costs -‐ review
- 43. Finances – your organisa@on
- 44. What we ask you: • OrganisaIon size • Date of last financial year • Financial overview • Annual turnover • Annual profits • Annual export • R&D spend • No. full Ime employees
- 45. Finances – your funding
- 46. Funding Funding rules • The level of funding awarded will depend upon the type of organisaIon and the type of research being undertaken in the project • Funding is calculated by project parIcipant IFS will advise the maximum grant % you can request based upon your answers to: • Type (and size) of organisaIon • Research category defined by the lead applicant in the ApplicaIon Details secIon of the applicaIon
- 47. Funding dependent upon type of organisa@on Organisa@on / Type of Ac@vity Technical Feasibility Studies and Industrial Research Experimental Development Notes Business (economic acIvity) Micro/Small – 70% Medium – 60% Large – 50% Micro/Small – 45% Medium – 35% Large – 25% Research Organisa@on (non-‐economic acIvity) UniversiIes – 100% (80% of Full Economic Costs) Other research organisaIons can claim 100% of their project costs – see note: Other research organisaIons must: • be non-‐profit distribu@ng and • disseminate the project results & • explain in the applica@on form how this will be done Public Sector Organisa@on or Charity (non-‐economic acIvity) 100% of eligible costs Must be: • Be performing research ac@vity & • disseminate project results & explain in the applica@on form how this will be done • ensure that the eligible costs do not include work / costs already funded from other public sector bodies
- 48. Funding • Each organisaIon must accept the grant terms and condiIons • The lead applicant will not be able to submit the applicaIon without all organisaIons accepIng the grant Ts and Cs.
- 49. Finances overview Please ensure your total costs are within the funding rules for the compeIIon
- 50. Non-‐grant claiming partners If a partner wishes to collaborate but does not wish to claim a grant: • Lead must invite partner to join the applicaIon • Partner must select “not requesIng funding” opIon in finances secIon of IFS • Partner must complete “Your project costs” secIon to provide value of their contribuIon • Partner will not be named in the Grant Offer Lefer if your project is successful
- 52. Why Je-‐S? • The Research Councils Joint Electronic Submission System (Je-‐S) is being used to collect ALL academic finances • Also to collect project finance details from non-‐HEIs (e.g. RTOs) that are claiming they are carrying out academic quality work and want to be funded on an FEC basis • The Je-‐S system automates the collecIon of Full Economic Costs (FEC) based costs from academic partners and tells them exactly what numbers should be used in the applicaIon form for their costs • Using Je-‐S enables Research Councils to easily co-‐fund Innovate UK projects
- 53. 53 Project costs – academic partners
- 54. • Enter the TSB reference number here • Enter the TSB ContribuIon column figures from your J-‐eS output document into the project costs secIon of the applicaIon • Upload the Je-‐S with council status form as a PDF at the bofom of the screen Project costs – academic partners
- 55. Normal Je-‐S applica@on elements • Not just the financials • E.g. JusIficaIon of resources • E.g Pathways to impact • Full details on the Je-‐S system • Queries about Je-‐S via the Je-‐S Helpdesk • [email protected] • 01793 444164
- 57. Project cost summary All organisaIons can see a summary of project costs
- 58. Checking your finances are complete IFS checks • all organisaIons have marked their finances as complete • research organisaIon parIcipaIon is no greater than 30% of the total project costs
- 59. Review applica@on before submission IFS will validate your applicaIon All quesIons must be “marked as complete” Leave plenty of Ime to validate your submission Deadlines are absolute
- 61. Submit your applica@on early!
- 63. Your dashboard
- 65. Applica@on Assessment All applicaIons are assessed by independent assessors drawn from industry and academia - What do they look for? • Clear and concise answers • The right amount of informa@on • not too much detail • no assumpIons • Quan@fica@on and jus@fica@on • A proposal that presents a viable opportunity for growth, a level of innova@on that necessitates public sector investment and has the right team and approach to be successful Keep your assessors engaged and interested in your proposal. You want them to be fascinated and excited by your idea!
- 67. Interviews Interviews will be held for the Large consorIa strand. If you are invited to progress to interview: • You can bring up to 5 people to afend the interview • You will have 30 minutes to present a maximum of 20 PowerPoint slides, with no videos or embedded links • There is a 15 min Q&A session lead by members of the panel • The presentaIons and presenters’ names have to be provided ahead of the interview
- 68. Project setup for successful applicants
- 69. IFS for successful applicants Project Set up: • 7 steps to complete • Applicable to all grant claiming partners • Must be completed within 30 days • Projects must start within 90 days or funding may be withdrawn • Project change requests cannot be submiWed before the project starts
- 70. Collabora@on Agreement • Original agreement signed by all parIcipants • Must be in place before the first claim • Key Features: • Who is in the ConsorIum? • What are the aims, and how is the work divided up? • Ownership of IPR • Management of consorIum Nego1a1ng a Collabora1on Agreement can be complex and 1me consuming. Start work on this at an early stage in the process.
- 71. Grant claims and payments • All grants are claimable quarterly in arrears • Claims can only be made for costs incurred and paid between the project start and end dates • Claims may be subject to an independent audit (including all academic partners) according to grant size • Claims are only paid once quarterly reporIng and necessary audits are complete • Projects over 6 months are monitored on a quarterly basis including a visit from the appointed Monitoring Officer. Anything outside of this will be discussed on a case by case basis. • The monitoring will be carried out against a detailed project plan and financial forecast
- 72. Contact us: Customer Support Services: 0300 321 4357 (Mon-‐Fri, 9am-‐5:30pm) [email protected] Knowledge Transfer Network: hfps://ktn.innovateuk.org Innovate UK: hfps://www.gov.uk/government/organisaIons/innovate-‐uk
- 73. Thank You