Missing information
Many delays are caused by having to find or create data to support the automotive funding case. A well-structured business plan document is the cornerstone of the application. This needs to be supported by a robust financial model (integrated profit and loss, balance sheet and cash flow model) and timeline. These don’t need to be overly detailed but more detail may be needed for the final assessment.
Scope 1
Indirect energy consumed electrical and thermal energy as part of the business internal operations
Scope 3
Indirect emissions from upstream and downstream activities
1
Missing Where’s the business case?
Part of the application is about having a commercially sustainable offering that creates or retains jobs. Make sure you know the addressable market you are targeting and have a robust rationale – contracts or partnerships with customers are favourable evidence.
2
No counter factual thinking
The counter factual is the alternative solution: the one that will be triggered if your automotive funding application is not successful. it also supports the value of the grant you are applying for.
3
Flying solo as an automotive business
Typically, applications that include partnerships, such as universities or other known establishments, tend to be more successful than applications that go it alone. It gives confidence and other reference points to give credible support.
4
Lack of accessibility
You need to be on call to meet with the APC/BEIS and relevant committees to discuss and even pitch your automotive funding application.
5
Making problematic changes
Projects change and evolve; this is perfectly natural. A good application will supply enough information to be credible without over-promising on areas that may change between application and implementation. For example, market data and factory location may not change, but manufacturing costs or capital expenditure costs might. It’s common to refer back to the application even if details have changed – and this can cause delays.
6
Not being prepared for the process
The final assessment is similar to due diligence with the government looking for assurance in your application. You may be subject to an assessment, which can take between six and 12 weeks depending on the amount requested. Our advice is to be available and accept that the whole process needs both project management and management’s time.
7
Missing information
Missing information
Many delays are caused by having to find or create data to support the automotive funding case. A well-structured business plan document is the cornerstone of the application. This needs to be supported by a robust financial model (integrated profit and loss, balance sheet and cash flow model) and timeline. These don’t need to be overly detailed but more detail may be needed for the final assessment.
Where’s the business case?
Part of the application is about having a commercially sustainable offering that creates or retains jobs. Make sure you know the addressable market you are targeting and have a robust rationale – contracts or partnerships with customers are favourable evidence.
No counter factual thinking
The counter factual is the alternative solution: the one that will be triggered if your automotive funding application is not successful. it also supports the value of the grant you are applying for.
Flying solo as an automotive business
Typically, applications that include partnerships, such as universities or other known establishments, tend to be more successful than applications that go it alone. It gives confidence and other reference points to give credible support.
Lack of accessibility
You need to be on call to meet with the APC/BEIS and relevant committees to discuss and even pitch your automotive funding application.
Making problematic changes
Projects change and evolve; this is perfectly natural. A good application will supply enough information to be credible without over-promising on areas that may change between application and implementation. For example, market data and factory location may not change, but manufacturing costs or capital expenditure costs might. It’s common to refer back to the application even if details have changed – and this can cause delays.
Not being prepared for the process
The final assessment is similar to due diligence with the government looking for assurance in your application. You may be subject to an assessment, which can take between six and 12 weeks depending on the amount requested. Our advice is to be available and accept that the whole process needs both project management and management’s time.