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£4 million in funding for business innovation

By North Devon Journal  |  Posted: February 27, 2014

PROJECT LEADER: Professor Janice Kiely, director of the Institute of Bio-sensing Technology.

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THE University of the West of England in Bristol has launched a new £4 million funding programme to support innovation in South West businesses.

Innovation 4 Growth grants, financed by the Government's Regional Development Fund, will be available to both small and medium-sized enterprises (SMEs) and large companies. Grants will be awarded in amounts of between £25,000 and £150,000.

The scheme aims to help businesses develop new or improved products, technologies, processes or services and to safeguard existing, or create additional, jobs.

"We are delighted to offer support to promising enterprises across the South West," said Professor Martin Boddy (pro-vice chancellor, research and business engagement).

"Not only in the Bristol area, but right across the region – from Truro to Tewkesbury, Bideford to Bournemouth – the fund will enable us to help businesses innovate and grow.

"Any company with plans for research and development, or thinking about an innovative project, should consider applying.

"We would typically fund 35% of project costs for SMEs, and a bit less for larger companies – so a significant portion of expenditure can be claimed."

Professor Janice Kiely (director of the Institute of Bio-sensing Technology), leader of the project, added: "The application deadline is March 10, 2014, so it is important that businesses express an interest as early as possible.

"Our dedicated advisors are more than happy to provide assistance with both the short application form and the overall process, making things much easier for those considering a submission.

"Businesses should complete the brief online registration of interest form in the first instance. An advisor will then contact them within three working days to discuss the potential application and to organise further telephone or face-to-face support, if required."

For details visit innovation4growth.co.uk.

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