University launches £4 million fund for SW businesses

Businesses across the South West are set to cash in on a new £4 million funding programme, run by the University of the West of England, Bristol.

Available to both small and medium-sized enterprises (SMEs) and large companies, the Innovation 4 Growth scheme will part fund research and development projects with grants of between £25,000 and £150,000.

Financed by the UK government’s Regional Development Fund it will help businesses develop new or improved products, technologies, processes or services – safeguarding existing, or creating additional, jobs as a result.

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.

Applications will be evaluated by a panel of business experts. There may be a further call after the 10th March deadline, but this will be dependent on the availability of funds after the initial submission.

Timescales in relation to claiming grants are also short, with all funding having to be issued by the end of the 2014/15 financial year (30th April 2015).

Eligible costs include;
*project staff salaries
*expenditure on materials
*capital equipment
*tooling
*training
*market assessment.

Further details of the scheme and the registration of interest form can be found at: www.innovation4growth.co.uk

Source ~www.mymas.org/news