Businesses urged to apply for innovation grants

Posted on Thursday 17 November 2016

A total of £1.3m is available in capital grants that are funded by the European Regional Development Fund (ERDF).

Eligible businesses must employ less than 250 people, have turnover of less than €50m, and use the grants to improve their products and processes.

Sectors which can apply include: food and drink; bio science; digital and creative media; health and social care; electronics and manufacturing using biological and chemical materials.

The scheme is being managed by the University of York.

Mark Gunthorpe, Head of the University’s Economic Development Team, said: “We want as many small to medium sized companies to take advantage of this innovation grant scheme.  

“Innovation is vital to business growth, and this money will help companies to invest, expand and create jobs and open up new opportunities.”

These types of grants can have a significant impact towards helping local businesses grow, as demonstrated through a similar initiative at the University of York's subsidiary, the Biorenewables Development Centre.  Examples include:

• The Innocent Pet Care Company increased their production capacity with an innovative dryer to meet the growing demand for their luxury pet treats and take on two new members of staff
• Landscaping firm Landplan invested in prototype equipment for turning low-value wood chips into a new fuel product; allowing them to confidently pursue and win new business.
• University of Leeds spin-out, the Nonwovens Innovation and Research Institute used the funding to shift their technology up a gear to make samples large enough to prove the feasibility of their prototype filters

Companies interested in applying for the first round of funding need to express an interest by 6 January next year.