SME SUPPORT - CALL IN HEART OF SOUTH WEST
The Investment Funds Growth Programme for England is supporting the key growth priorities of innovation, research and development, support for Small and Medium Sized Enterprises, low carbon, skills, employment, and social inclusion.
Funding Body Investment Funds Growth Programme
Funding Amount £500,000+
Deadline 31st October 2017
FUND USE This call is looking to:-
Promote entrepreneurship, in particular by facilitating the economic exploitation of new ideas and fostering the creation of new firms, including through business incubators.
Support the creation and the extension of advanced capacities for products, services and development.
Support the capacity of Small and Medium Sized Enterprises to grow in regional, national and international markets and to engage in innovation processes.
FUND CRITERIA European Regional Development Fund investment is intended to make a significant impact on local growth. Applicants are expected to demonstrate appropriate scale and impact on local economic growth. The HoTSW LEP does not intend to allocate less than £500,000 of the Fund to any single project. Consequently projects with a total value of less than £833,333 will not normally be supported under this call. The HoTSW LEP area is, for the purposes of European Structural and Investment Funds, divided into two categories of region. The transition region covers Devon County and Torbay and Plymouth unitary authorities while the more developed region covers Somerset. In the transition region it is possible for the grant contribution rate to be up to 60% of the total eligible project costs subject to state aid regulations. The level of European Regional Development Fund awarded will be the minimum needed in order for the project to proceed. The remaining 40% or more must come from other eligible sources. Local partners and the HoTSW LEP expect applicants to present an ambitious set of outputs demonstrating good value for money. These with domestic strategic priorities will form a key part of the assessment and appraisal of all applications, therefore, proposals should ensure that these two conditions are fully and robustly demonstrated.