1) The purpose(s) for which the grant is being offered must be met by your project. The purpose may be very tightly defined e.g. ‘basic research into imaging technology for medical devices for blood screening’; or broad as in ‘increase productivity and/or employment’.
2) The size of your business. Some grants are only available to businesses of a certain size e.g. small or medium size businesses (SMEs). Often, even when open to businesses of any size, SMEs may receive favourable terms or special treatment.
3) The industry in which the applicant is active. Sometimes certain grants are only available to specific industries. Equally some industries may be excluded.
4) The location at which the project is to take place. Location is rarely of importance but for most capital investment grants and certain EU grants location requirements may be exact.
5) Need or additionality. Many grants are dependent on the applicant showing a need for the grant. Specifically the grant must add benefit to a project by making it go ahead, say, faster, on a larger scale or indeed at all. This concept is known as ‘additionality’ and is a key requirement for all major grants
6) The project must be viable in commercial terms. As grants will only ever provide a proportion of a projects cost the applicant will need to demonstrate the availability of the remaining funds ( ‘matching funds’). The overall commercial viability of the business applying will also be considered.