The Technology Strategy Board has confirmed today that grants made under the SMART scheme (proof of concept; prototype development and proof of market) do not affect the amount of investment that an entrepreneur can receive under the new Seed Enterprise Investment Scheme which enables qualifying businesses to access up to £150k investment, offering up to 50% tax break to investors.

However HMRC warn that the SEIS scheme is subject to de minimis rules under State Aid which provdes a cap on the amount that can be received of 200k euros. Entrepreneurs seeking investment under SEIS need to check whether any other grants or support already received have also been provided under the de minimis state aid regulation. In which case this could directly the amount of investment under SEIS that can be received under this scheme.

For more information on TSB SMART see: https://www.innovateuk.org/content/competition/smart.ashx
For more information on SEIS CLICK HERE