Led by University of Lincoln, this funding initiative enables companies located in business incubation environments (e.g. business incubator, innovation centres, enterprise centres etc.) ‘fly the nest’ and prepare their next stage of growth. Here is the link to our dedicated website where interested companies will find more information about eligible criteria, application process etc.: www.growongrowth.co.uk. In a nutshell:
- The Grow on Growth Fund proposes grants between £20K and 100K to companies near to ‘incubation exit’
- Intervention rate = 40% max. Match funding (private sector) will need to be identified to 60% min.
- The grant covers capital assets mainly: capital investment in property, buildings and refurbishment costs; commercial rents; plant, machinery & equipment; IT and new technology; staff recruitment and training costs.
- The grant needs to be spent within 12 months max.
The scheme closes in March 2017 which leaves tenant companies time to plan how best to use this opportunity. For any further information, companies can contact me: [email protected]