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innovation action fund
Support developing innovative products and processes. SMEs in North East England can apply for 50% of project costs to a maximum of £60,000.
This fund aims to support innovative activities in SMEs. The types of projects funded will be those that will offer novel, diagnostic or problem solving services or exploratory innovation in the areas of product innovation and development, process innovation and technology acquisition. The funding is provided by One Northeast RDA and DRDF funding, and managed by Business Links in the North East region.
More Info: One North East
innovation action fund for innovative products, processes and services
SMEs in North East England can apply for 50% of project costs.
The aim of the Innovation Action Fund (IAF) is to provide funding to North East SMEs to support innovative activities. Grants provide up to 50% of the total project costs for new, diagnostic or problem solving services or exploratory innovation projects in the areas of; product innovation and development, process innovation and technology acquisition.
Three types of awards are available:
• SME Incentive Awards are for businesses needing finance for new diagnostic or problem solving services or exploratory innovative projects which may lead to further innovative activities. Grants of up to £5,000 towards up to 50% of the total project costs.
• SME Project Awards are for individual businesses or groups of businesses working collaboratively on innovative projects. Projects might include the development of new capability in innovative management, production, business design or human resource development. Grants of up to £30,000 towards up to 50% of the total project costs will be offered.
innovation network awards are for groups of three or more organisations working together collaboratively on innovative projects. These groups must be led by an SME.
Grants of £30,000+ towards up to 50% of the total project cost can be offered (usually with a maximum £60,000 grant limit).
the innovation action fund new product programme is available to encourage the development of new consumer products. Focus is on the management of design. Its aim is to enable North East businesses to explore new market opportunities. Grants of up to 50% of the total project cost can be offered.
More Info: Business Link
funding for management development training
50% of training costs.
Business Link Tyne & Wear can provide financial assistance for businesses undergoing management development training. SMEs in Tyne & Wear can apply for 50% of training costs. For management development training that is linked to a business objective or action plan. The training should look to improve the internal business processes. Training can last for a maximum of one year.
The following types of training may be acceptable for support:
• Supervisory management skills;
• Management development;
• Business planning;
• Strategic planning;
• ICT development;
• Financial management;
• Environmental management;
• Quality management;
• HR management.
Training that is required by law is excluded. This includes health and safety risk assessment /auditing training. Training for a member of staff to gain an MBA is also excluded.
Business Link Tyne & Wear will contribute up to 50% of the eligible project costs. The minimum level of assistance is £200.
More Info: Business Link Tyne & Wear
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