Launched by Northamptonshire Growth Hub, the Innovate Northamptonshire grant funding aims to encourage businesses to explore new ideas.
Grants are available from £2,000 to £20,000 to support activities that lead to the development of new products, processes or services. This could be as simple as improving efficiencies and increasing production through streamlining processes, or being more ambitious and developing a prototype to introduce something brand new to the market. The funding can also be used to bring in external expertise to develop your ideas and take them forward.
Research shows that product development is vital to business growth; however, although many businesses recognise this, the barriers which they face are limiting progress, with skills and funding identified as the biggest obstacles to success.
Cathy Martin, Projects and Grants Manager at Northamptonshire Growth Hub states:
“It’s a competitive market out there and it’s vital that businesses stay ahead of the game. One way of doing that is by exploring new ideas, whether that’s developing a new product or doing things in a different way. This grant funding is available because we recognise that businesses need that extra bit of support to lessen the risk and encourage confidence in their ideas.”
The grant scheme is part of a wider package of support offered under the Innovate Northamptonshire project which includes 121 business advice, a variety of workshops and access to expert knowledge.
Innovate Northamptonshire is part-funded by the European Regional Development Fund and delivered by Northamptonshire Growth Hub – a partnership between The University of Northampton and Northamptonshire County Council, providing comprehensive and unbiased support for your new or growing business.
Anyone wishing to know more can call the Growth Hub on 01604 212696, or email IN@northamptonshiregrowthhub.co.uk for details on eligibility and how to apply. Grant applications should be submitted by 5pm on Friday, November 17, 2017.