Businesses encouraged to bid for share of multi-million pound funding

Businesses in North Lincolnshire are being encouraged to bid for a share of a multi-million pound government funding pot.

Some £15 million is being made available through Innovate UK to develop novel products and services.

Businesses can also apply for a share of a further £10 million for work on projects with graduates.

Applicable projects can range from short feasibility studies to longer industrial research or experimental development projects, however there must be a potential for commercialisation or economic impact.

Key information:

  • The competition opens on March 1, 2018 and the deadline for applications is May 9, 2018
  • Projects must be led by a business working alone or in collaboration with other organisations or researchers
  • The expectation is for projects to range in size between £25,000 and £1 million and to last between six months and three years
  • Businesses could attract up to 70% of their total project costs
  • Innovative ideas can come from any sector or technology area and at any time

Businesses also have the opportunity to apply for a share of the £10 million for Knowledge Transfer Partnerships (KTPs).

KTPs allow businesses to benefit from a partnership with an academic institution and a recent graduate with relevant expertise to work on a specific innovation project.

Councillor Waltham said: “I want to encourage innovation in businesses across North Lincolnshire.

“I’d encourage them to have a look at how they can access a share of these grant monies. I wish them well with any applications.

“I welcome that the government are supporting business in our area to grow and employ people.”

For more details, click or tap here.