Grow on Growth Fund
- Opens: Now
- Funding type: Grant
- Funding body: RGF
- Key driver Job Creation
- Funding amount: £20,000 to £100,000 (up to 40%)
- Deadline Ongoing
The Grow on Growth fund is a new programme funded by the Government’s Regional Growth Fund and is available to businesses across England, specifically micro businesses and young established SMEs located within business incubators who are about to ‘exit’ that environment. These can be resident, non-resident or affiliated to the business incubation environment.
Grow on growth funding can be used towards a range of costs including:
- capital investment in land and premises,
- commercial rents,
- refurbishment to owned or leased premises,
- machinery and equipment,
- IT and new technology equipment, and
- job creation related costs (e.g. recruitment and training).
Open to micro and SME businesses in England that are resident in or part of a business incubator programme and want exit in preparation for their next growth phase. Project duration should be 12 months. You can apply for grant funding in the range of £20,000 to £100,000 for up to 40% of eligible costs.
Applicants must be able to demonstrate that match funding is in place for the remaining 60%, which must be from a private sector source such as cash reserves, banks, investors etc (anticipated revenue growth is not eligible).
Successful applicants will need to demonstrate that the project will create new jobs and that it is deliverable, sustainable and good value for money.