DO you have an innovative idea and need help to develop your business?
The Northamptonshire Growth Hub is the delivery partner for the Innovate Northamptonshire project aimed at promoting research and innovation within SMEs across Northamptonshire. The project offers a combination of workshops, advice, demonstrator visits and financial assistance depending upon the innovation need of each SME.
The project will support SMEs across the county with a particular focus on the four key sectors: High Performance Technologies, Agri-tech including Food and Drink, Creative and Cultural Industries and Logistics.
Innovate Grants of up to £4,000 are offered to eligible SMEs covering between 50 per cent and 100 per cent of the total costs depending on activity. Grants are aimed at encouraging SMEs to explore innovation as a way of developing and growing their business. The funding will support research and development activity leading to innovation and the development of new products, processes and services either to the firm or to the market.
Innovate Vouchers ranging from £4,000 to £20,000 could cover approximately 50 per cent of the total costs, depending on the actual activity.
Vouchers are similar to grants but will support larger research and development activities mainly focused at collaboration with research organisations/specialists, leading to the development of new products, processes and services.
Knowledge Transfer Partnerships (KTPs) Grants available are worth up to £10,000 matched by the client business for five projects.
The aim is to provide funding to support additional costs associated with the delivery of a KTP project that has been supported by Innovate Northamptonshire in the application stage and subsequently been approved by Innovate UK.
Businesses can benefit by working with research institutions providing:
* Assistance in the development of new ideas and new solutions
* Reduction of research costs by accessing state funds (grants and KTPs) and modern infrastructure
* Access to expert advice, knowledge and equipment
* Provision of access to skilled and work-ready researchers
* Access to national and international networks.
Innovate Northamptonshire also offers a series of four workshops – available from September 2017:
* Creating a Culture of Innovation
* Intellectual Property
* Innovation in Products, Processes and Supply Chain
* Investment in Innovation
Running until March 2019, Innovate Northamptonshire is part-funded by the European Regional Development Fund and delivered through the Northamptonshire Growth Hub – a partnership led by The University of Northampton and supported by Northamptonshire County Council providing a range of business support services to businesses throughout the county. To register your interest in the Innovate Northamptonshire project send an email to or call 01604 212696.
European Regional Development Fund
The project is receiving up to £1,431,974 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit www.gov.uk/european-growth-funding.