The problem for SMEs as
Service Providers
SMEs have restrictions on finding funding and contracts due to a lack of
- awareness about opportunities, regionally or nationally
- easily accessible and searchable databases
- capacity for navigating right frameworks and confusing application processes
As a result, 47% of SMEs that consider applying decide not to go ahead. Most that apply have to resort to hiring external bid or grant writers spending £5k-25k+ per application.
Opportunity Blindspots
High number of public and private portals makes it hard to find relevant and timely opportunities
- 15 major Public Portals
- 30+ specialised Public Portals
- 100+ Private Portals
SMEs lack capacity
- Digital skills to identify, apply for and win funding
- The gap between intention to apply for government grants (19%) and applying is 9% or ~550,000 SMEs (GOV.UK., 2023)
SMEs fail to compete
- ‘Framework agreements’ for contracts (£35bn in 2023) make it harder for SMEs without an army of bid writers to compete.
- The National Audit Office reports suppliers’ problems of high bid costs, lack of confidence in evaluation and lack of feedback. (fsb & NAO in FT June 2023)
The problem for
Opportunity Providers
Opportunity Providers who want to work with SMEs face costly challenges:
- publicising their opportunities, especially to SMEs in socio-economically deprived sectors
- making their frameworks and application processes ‘user-friendly’, so the applications are high quality
- processing inadequate applications and giving feed-back
- missing their funding targets, resulting in missed opportunities for SMEs to grow
- receiving quality evaluation of projects’ impact for making improvements
Missed Targets
- Only 26% of direct public sector procurement spend was with SMEs in 2023, missing the government’s 33% target, a shortfall worth £5.4B.
- “While SME procurement contracts increase, government deals remain out of reach for too many businesses. (BCC, SME Procurement Tracker, Aug 2024)
Applicant Assessment
- About 20-50% of grant or tender applications are rejected due to substandard applications, but make it through on a later attempt.
- Results in under-allocated funds or best service providers not getting contracts. (NAO in FT June 2023)
Evidence of impact
- Funders operate in a complex environment, and need to understand the difference their funding is making, directly and indirectly.
- Both service & opportunity providers struggle to assess impact due to changing standards across hundreds of Monitoring & Evaluation frameworks in the UK and beyond
The solution
Our AI-Powered Opportunity Matcher supports three functions for SME Service Providers (SPs) seeking grants/contracts and Opportunity Providers (OPs) offering grants/contracts:
- Finding Opportunities or SME Service Providers
- Making or Receiving Quality Applications
- Monitoring & Evaluation
Opportunity Matcher Elements
- Opportunity Agent matches Service Providers with relevant opportunities for grants & service contracts
- Social Impact Agent produces a Social Impact Action Plan and Social Impact & Social Value Reports
- Customer Support from bid writing & Social Impact experts
Features
- All opportunities in one place, including notification of new opportunities
- Step-by-step guide for Service Providers through procurement & application processes, including drafting application
- Supports Opportunity Providers in creating & improving existing listings to receive higher quality applications
- Generates a Social Impact Action Plan to fit with Monitoring & Evaluation requirements consistent with relevant industry frameworks
- Quantifies & reports project results, Social Impact & Social Value including recommending actions to improve Service Provider’s project or business
Benefits
- Service Providers see only relevant, timely opportunities – so they can focus on winnable bids
- Service Providers overcome barriers for accessing & winning bids/grants, saving time, money & stress
- Opportunity Providers increase visibility and save resources, getting the best Service Providers & hitting targets
- Service Providers produce clear & reliable Impact Reporting aligned with industry standards throughout a project (not just at the end!)
- Both Opportunity & Service Providers get maximum value out of reporting system and can use insights to improve services & impact
How it works
AI-powered Opportunity Matcher
Step 1
Opportunities Providers Input
- Access to public databases and portals for grants & tenders
- Input from Private Opportunity Providers (OPs) with their Opportunities
- Support OPs in improving their opportunity inputs
Step 2
Service Providers Input
- Service Providers (SPs) input their business details
- Opportunity Matcher and SP ‘chat’ to understand and recommend actions
- Opportunity Matcher supports SPs in applications and project delivery & tracking
Step 3
‘Opportunity Agent’ Actions
- Matches Service Providers with relevant opportunities
- Guides SPs through needed certifications or procurement Frameworks
- Drafts application, based on AI training from successful applications
- Notifies SPs when new opportunities arise
Step 4
‘Social Impact Agent’ Actions
- Generates a Social Impact Action Plan to fit with Monitoring & Evaluation requirements
- Selects appropriate tracking & assessment approach based on relevant industry frameworks
- Specifies what to track, when and how to do it
Step 5
Opportunity Matcher Reporting
- Quantifies & reports project results, Social Impact & Social Value
- Recommends actions to improve SP’s project or business
- Creates a virtuous cycle by automatically matching new opportunities based on SP’s results