Small and medium-sized businesses in the Bath area can benefit from research and development grants of up £75,000 under the University of the West of England’s (UWE Bristol) relaunched Innovation 4 Growth (I4G) grant funding programme.
The popular initiative, which recently opened for the fifth time, pledges a total of £650,000 in funding.
SMEs in any industrial sector can apply, as long as they have a presence in Bath & North East Somerset, Bristol, North Somerset or South Gloucestershire and intend to carry out innovative R&D. Companies, start-ups, social enterprises and sole traders are all eligible.
Successful applicants will be issued with grants of between £10,000 and £75,000 to be used to cover up to 35% of total project costs.
Eligible R&D expenditure could include fees for consultancy, testing, trials or market assessment, as well as purchasing equipment, technology, machinery, materials and any associated training costs.
In return, grant recipients will need to commit to the creation of jobs in the West of England, so contributing to the area’s economic health.
Opening the latest I4G round, which is financed through the European Regional Development Fund (ERDF), UWE Pro Vice-Chancellor for Research & Enterprise Prof Martin Boddy said: “As was the case with previous I4G funding calls, our dedicated team of UWE Bristol advisors will be hosting a series of confidential, one-to-one advice and guidance sessions for potential applicants at locations across the West of England.
“This support is something previous grant recipients appreciated and, along with the straightforward application process, makes I4G an attractive funding option for both long-established and start-up enterprises.
“Any SME looking to carry out innovation and R&D activities should register their interest via the programme’s website www.innovation4growth.co.uk. An application form, guidance documents and an invitation to a drop-in session will be sent to them in return.
“Successful applicants can utilise their funding for a wide range of projects. Previous grant recipients have undertaken activities ranging from software, app and games development, to the refinement of innovative engineering, manufacturing and automotive products.
“Timelines can vary too. We anticipate that some funded projects will have a very short timeframe, while others might run right up to the final deadline of June 2019. The key message is that we are interested in funding a range of projects that reflect the diversity of R&D taking place among the West of England’s business community.”
The deadline for applications is Thursday, March 1.
The I4G programme is one strand of UWE Bristol’s wider innovation, enterprise and business growth offering in the region. The £16m University Enterprise Zone on its Frenchay Campus houses the Future Space business incubator and Bristol Robotics Laboratory – the UK’s largest multi-disciplinary robotics research centre with its own incubation facilities.
Its other ERDF-funded initiatives include Launch Space, which provides desk space and support for graduate entrepreneurs and is also based in the Enterprise Zone, and the Network for Creative Enterprise, operated in partnership with Bristol’s Watershed media centre and offering free workspace and business support in the creative sector.
Prof Boddy added: “These programmes are evidence of our commitment to supporting the development of the regional economy. They form an important part of our business support offering, alongside more established solutions such as student and graduate recruitment, collaborative research, consultancy and knowledge transfer partnerships.
“We are really excited to be launching another round of I4G funding and look forward to supporting the next cohort of innovative businesses to meet their R&D objectives.”
Drop-in advice sessions for potential applicants are being offered at venues across the West of England, as well as in the University’s Enterprise Zone and flagship £55m Bristol Business School building right up to the deadline for applications.
Expressions of interest can be made online at www.innovation4growth.co.uk. For a confidential discussion about a potential application, or for more general information about the scheme, contact the I4G Team on innovation4growth@uwe.ac.uk.
