FUNDING INFORMATION FOR NORFOLK AND SUFFOLK November 2013

Transcription

1 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK November 2013 New Anglia Local Enterprise Partnership, The Walpole Suite, Ketteringham Hall, Wymondham, Norfolk NR18 9RS. Tel: Website: New Anglia LEP LinkedIn newanglia lep

2 CONTENTS 1 Introduction to the document 3 2 Funding Matrix 5 3 Funding Ladder 6 4 New Anglia Direct Funding 7 5 Partner Organisation Funding 11 6 European Funding 27 2 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Contents

3 1. New Anglia LEP New Anglia Local Enterprise Partnership (LEP) was given Government approval in December 2010 and formed as a company in June The LEP plays a pivotal role in attracting funding into Norfolk and Suffolk to support the growth of the economy and sustained job creation. Our aim is to ensure that Norfolk and Suffolk are nationally and internationally competitive, with the LEP acting as a catalyst to achieving sustainable economic growth and tackling barriers where they occur. This is achieved through; Enabling business start-up and growth Developing existing growth sectors, clusters and supply chains Championing infrastructure improvements to aid business productivity Delivering action at the level that is meaningful and works for business Facilitating business and local community engagement and; Promoting skills and workforce development How can this document help you? Local Enterprise Partnerships are designed to support business and public sector partners in working together to grow the local private sector, tackle major barriers to growth and secure investment to increase job creation. This funding information document has been produced to compliment New Anglia s existing aims, providing businesses and public sector partners with the essential knowledge needed to assess funding options. With a plethora of funding streams, documents and guidance notes available, businesses can often find it difficult to locate funding information which is both useful and provides additionally. This document aims to simplify this complex process by providing information about funding available to businesses in Norfolk and Suffolk, either directly through the LEP, through partner organisations in the region or through the European Union s headline programmes, which can filter down to local project level. Whilst this document will not be able to provide direct answers for all questions relating to specific funds, what it does is provide is headline information on some of the key funding opportunities available and how to contact the relevant funding organisations and delivery teams. New Anglia LEP FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 3

4 We have aimed to keep this document as simple as possible, with only headline information and funding budgets stated. Additional information should be sourced from the funding provider before a decision is made on whether to apply. However, we aim to help this decision making process by providing two Easy guidance funding diagrams. We suggest using these diagrams prior to reading the document, to help you narrow down your search directly. Our Funding Ladder provides key information on business size and sector specific funding, whilst a Funding Matrix has been produced to simplify eligibility criteria. As mentioned above, this document provides only a snapshot of the funding possibilities out there, as funding included in this document is mainly from the biggest and broadest programmes. For information on all funding sources, as well as business support links, events information and networking opportunities, New Anglia LEP has created the Business Information Portal, Bringing together local and national business support from hundreds of sources, the portal has been created to help businesses find information on subjects ranging from finding finance to resource efficiency schemes. The site is free to register on and provides access to over 250 organisations and 500 business service opportunities. As well as up to date portal information, this document will be updated on a rolling basis as new funding streams open and others close. Therefore, the best way to refer to this document in the future will be through New Anglia s website 4 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK New Anglia LEP

5 2. Funding Matrix PROGRAMME TITLE ECONOMIC ENVIRONMENTAL SOCIAL ACROSS NORFOLK AND SUFFOLK SMES ELIGIBLE LARGE FIRMS ELIGIBLE GRANTS/LOANS EQUITY INVESTMENT LIFESPAN TYPICAL FUND ALLOWANCE Growing Business Fund G K- 500K at 20% of investment level Growing Places Fund L 2015 Individually determined for each project Enterprise Zone Business Rate G ,000 a year business rate discount Agritech Growth Innitiative L million overall regional fund New Anglia Capital Ongoing Equity Investment of varying levels Grants4Growth G Ongoing 28%-30% grants of up to 6,300 Regional Growth Fund G/L Bids by Dec million across England North Norfolk Pathfinder L Ongoing Loan of 5K to 35K at a fixed rate of 5% interest Business Loan Scheme Low Carbon Innovation Fund Ongoing 25k to 750k GrowthAccelerator G Ongoing 2,000 training grant Manufacturing Advisory Service (MAS) G Ongoing Advice, Support and Consultancy of 30%, 40% or 50% up to 7200 UK Trade and Investment (UKTI) G Ongoing Free Advice, Support and Consultancy NWES G Ongoing Free Advice, Support and Consultancy Menta Ongoing Free Advice, Support and Consultancy Anglia Ruskin University: Low Carbon KEEP G Ongoing Up to 24,000 and 5,000 Innovation Vouchers Student Enterprise and Employability G Ongoing 500 to 3,000 Development (SEED) Norwich Research Park Proof of G Ongoing Up to 30,000 Concept Fund Agri Innovation Fund G million overall national fund EValu8 Innovation vouchers G Ongoing Up to 1,000 in vouchers value OrbisEnergy: Supply Chain G Ongoing Grant of up to 50,000 or 30% of costs, Innovation Funding whichever is less Funding Matrix FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 5

6 3. Funding Ladder New Anglia/European Union Low Carbon Agriculture/ Agri-tech Strategic European Horizon 2020, LIFE+ European Marine Programmes Investment Smart cities, Fisheries Fund Strategy, Strategic Culture Economic Plan programme All Firms Energy Manufacturing Large Firm/ UKTI, New Anglia Capital LCIF Agri-tech Growth Enterprise Zone Manufacturing Organisation Initiative and Agri Advisory Service innovation Fund. Established/ Growing Business Fund, Growth LCIF,Grants4Growth Agri-tech Growth Enterprise Zone Manufacturing Growing SME Accelerator, New Anglia Capital, Low Carbon Initiative and Agri Advisory Service NWES, Menta, UKTI, EValu8 KEEP innovation Fund. innovation vouchers Start Up UEA SEED and POC Fund, LCIF Agritech Growth Manufacturing New Anglia Capital, NWES, Initiative and Agri Advisory Service Menta innovation Fund Pre Start Up UEA SEED and POC Fund, LCIF Agritech Growth New Anglia Capital, Initiative and Agri NWES, Menta innovation Fund 6 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Funding Ladder

7 4. Direct Funding and Strategic Programmes of New Anglia LEP New Anglia provides direct finance through loan, grant and cost reduction schemes, designed to help some of our priority sectors. This diverse make up of funding options sits under New Anglia s strategic funds, which outline strategic objectives and aim to create sustainable growth in the region. Growing Business Fund New Anglia Local Enterprise Partnership has recently been awarded 9m to significantly expand its Growing Business Fund to a total of 12m. The Growing Business Fund is supported by the government s Regional Growth Fund (RGF), and is specifically aimed at helping businesses across Norfolk and Suffolk that want to grow but have been held back by a lack of finance. The fund targets small and medium enterprises falling under one of the following key sectors; Energy Advanced Manufacturing Health/Life Sciences Biotechnology and; ICT and Digital Creative. To ensure the successful operation of the grant scheme, clear and simple criteria have been created which include securing one job for every 10,000 worth of grant and being a SME based in the region. The full list of eligibility criteria can be found on the New Anglia Website. The fund provides grants of up to 20%, between 25,000 and 500,000 to businesses that have a shortfall in their investment plan and are able to create at least one job for every 10,000 provided by the fund. Please contact Nataliya Klymko, Growing Business Fund Coordinator, via Nataliya.Klymko@newanglia.co.uk or Chris Dashper, Growing Business Fund Manager: Chris.Dashper@newanglia.co.uk For more information about the Growing Business Fund please visit: Direct Funding FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 7

8 Growing Places Fund New Anglia Local Enterprise Partnership secured a total of 18 million funding from the Government's Growing Places Fund and in March 2012, invited organisations to put forward funding proposals to kick-start stalled and delayed infrastructure projects. The fund looked to address infrastructure constraints, promoting economic growth and the delivery of jobs and houses. A total of 15.9m of the funding available has been allocated to capital projects; the remainder is to be used for other initiatives planned by the New Anglia Local Enterprise Partnership. New Anglia remains interested in talking to other potential applicants looking to submit funding requests to future rounds. This would either be from repaid funds or potentially from additional tranches of funding provided by Government, a portfolio of applicants and future priorities can then be assembled. Contact New Anglia LEP Directly through Chris Dashper, Growing Places Fund Manager: Chris.Dashper@newanglia.co.uk For more information about the Growing Places Fund please visit: 8 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Direct Funding

9 New Anglia (Great Yarmouth & Lowestoft) Enterprise Zone Business Rate Discount There will be over 50 billion capital expenditure invested in the eastern region over the next 20 years in: Round 3 offshore wind farms Oil and gas exploration and extraction Nuclear new build and decommissioning and; Gas storage and platform decommissioning Within the East of England Energy Zone, New Anglia Local Enterprise Partnership has created an Enterprise Zone which focuses on growing energy-related businesses. The Enterprise Zone covers six sites in Great Yarmouth and Lowestoft, two locations which have been given national Centre for Offshore Renewable Engineering (CORE) status for the offshore wind sector. The Great Yarmouth and Lowestoft enterprise zone comprises a total area of 121.7ha. This area is subject to a simplified planning regime, will be equipped with superfast broadband by 2015 and has the additional benefit of business rate discount. To qualify for this business rate discount; A Company must be in the Enterprise Zone before the 1st April Any De Minimis (State Aid) received in the qualifying 3 fiscal years will need to be taken into consideration. The De Minimis Regulation allows an enterprise to receive up to 200,000 De Minimis aid over any period of 3 fiscal years. An enterprise is asked to disclose this and this information is then used to assess the eligibility to receive any further assistance through the business rate discount. The Enterprise Zone Business Rate discount (BRD) is up to a maximum of 275,000 over a 5 year period ( 55,000 per year). Contact New Anglia LEP Directly Through Eunice Edwards: Enterprise Zone Coordinator Eunice.Edwards@newanglia.co.uk For more information please see the Enterprise Zone summary document: For specific information on Lowestoft and Great Yarmouth s CORE offer please visit: Direct Funding FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 9

10 Agri-Tech Growth Initiative The Government has announced they will provide 3.2 million of funding to support the development of the agritech industry in Norfolk, Peterborough and Cambridgeshire. This initiative brings together the diversity of world class capabilities in research, technology, engineering and manufacturing which already exists in the area. The funding will strengthen a nationally significant, vibrant cluster that brings a truly global reach and impetus to the emerging UK Agritech sector. The Eastern England Agri-Tech Growth Initiative will receive the funding from the Government s Regional Growth Fund following a bid submitted by the Greater Cambridge Greater Peterborough Enterprise Partnership (LEP), in conjunction with New Anglia LEP. Focusing on future success, the initiative will boost growth by: Supporting the research, development and application of new technology in the food and agriculture industry, through commercialisation and supply chain development. Enabling essential skills development. Establishing a new cluster that places the region as a centre of excellence for combatting global challenges in the food and agriculture sector. Providing loans for local SMEs in specialist food-related sectors and industries. Creating innovation support for micro-enterprises that are currently unable to access support via existing schemes. Reviewing opportunities to create a private sector network for the Agri-tech cluster in our area to help broker investments. Loans for SMEs will form a core part of the funding package, as will support for micro-enterprises. Exact funding guidelines are yet to be produced, see below. Greater Cambridge Greater Peterborough LEP is leading on this fund and will be collecting the details of those who are interested. Please Contact: info@yourlocalenterprisepartnership.co.uk for more information. 10 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Direct Funding

11 5. Partner Organisations Partner organisations offer a broader array of funding opportunities than the LEP can provide, working with these partners allows businesses in the LEP to fully exploit potential funding sources. The information provided is from our main partners who have a large presence in the region. It is a non-exhaustive list, and a full list of organisation contacts can be found on the business information portal New Anglia Capital A partner organisation to New Anglia LEP, New Anglia Capital supports equity investment in Norfolk and Suffolk. New Anglia Capital provides businesses with innovative, alternative methods of raising money for growth. With conventional sources of funding becoming ever scarcer, the organisation provides equity investment to firms needing capital injections. The organisation brings businesses together with sources of private and public early stage funding. It also has an expanding network of private investors who are seeking good returns and a desire to support the growth of new and early stage businesses throughout the area. As funding would come through equity investment, funding amounts depend on company revenue, expansion aims and a strong business plan. New Anglia Capital can be contacted on: or by at info@newangliacapital.co.uk Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 11

12 Grants4Growth Grants4Growth is a two-year package of free, confidential and impartial support for SMEs, providing practical guidance and financial assistance to help them reduce costs and increase competitiveness and resilience. The scheme is run in partnership with New Anglia LEP and managed by Breckland Council. It operates throughout the East of England in Norfolk, Suffolk, Cambridgeshire and parts of Bedfordshire. It provides two potential grants, for capital and revenue. The Capital grant can support: Investment in technology or processes that facilitate growth, improve resilience or create/safeguard jobs Efficiency initiatives in the form of waste, water or energy efficiency, recovery or reduction Investment in technology and processes that reduce the environmental impact of business operations. Whilst the revenue grant can support: Specialist consultancy and/or support and studies related to the promotion, marketing or mainstreaming of low carbon and environmental good and services (LCEGS) sector products and services Clean tech and/or green tech advancement. Capital grants are available up to a maximum of 28% of eligible capital expenditure (up to 6,300 or more). Revenue grants are available up to a maximum of 30% of eligible revenue expenditure (up to 1,666). The local contact for the New Anglia area is Lindy Warmer. For all enquiries, including assistance with access to grants, please her at lindy@grants4growth.org.uk or phone her on or FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

13 Regional Growth Fund The Regional Growth Fund (RGF) is a 3.2 billion fund, helping companies throughout England to create jobs between now and the mid-2020s. The payment of Regional Growth Fund money is spread between 2011 and The Regional Growth Fund supports projects and programmes that are using private sector investment to create economic growth and sustainable employment. The first 3 rounds of the Regional Growth Fund are now delivering, with 2 billion awarded to almost 300 projects and programmes. Collectively, these have committed to deliver 473,000 jobs and 12 billion of private sector investment. Round 5 is now open for bids and will close at midday on 9 December Up to 300 million will be available with selected bidders announced in spring Bids may be supported by local authorities or Local Enterprise Partnerships, but should not use them for delivery. Round 5 is open to bids of 1 million or more for high quality private sector projects and programmes that leverage private sector investment and create sustainable jobs. Bids will again be judged on how well they create sustainable jobs and will be assessed against five criteria: project location additionality sustainable private sector growth value for money and; State Aid compliance For more information regarding the RGF and for access to expression of interest and application forms please visit: If you have further queries about the Regional Growth Fund, contact the directly at: growthfund@bis.gsi.gov.uk. Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 13

14 North Norfolk Pathfinder Business Loan Scheme North Norfolk District Council has developed this loan scheme administered by Norfolk Community Foundation as part of the further support available to small businesses in the district. The loan is a gap financing measure to be primarily used for development and expansion of small businesses in North Norfolk which otherwise cannot access borrowing. The scheme would provide a fund for which businesses could apply for a loan in order to support investment which allows their business to adapt, improve or relocate in the light of coastal blight. An applicant business can apply for a loan between 5,000 and 35,000 with a fixed rate of 5% interest applied over a 3 year repayment schedule. The loan is designed to help those who have exhausted mainstream sources of funding and must be used for capital investments or expenditures. Potential spending could include: Acquisition of land and buildings for relocation or expansion New construction Facade and building enhancement Landscape and property improvements Machinery and equipment The final decision as to whether the activity/facility/equipment falls within the scope of the loan will be taken during appraisal of the loan application. For enquires please contact Graham Tuttle at Norfolk Community Foundation by GrahamTuttle@norfolkfoundation.com or telephone The Application Guidance Notes and Loan Application Form can be downloaded from 14 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

15 Low Carbon Innovation Fund The Low Carbon Innovation Fund (LCIF) is a European Regional Development Fund (ERDF) supported venture capital fund, run by the University of East Anglia. The Fund makes early-stage investments as equity or convertible loan between 25K and 750K alongside co-investors. The investee companies must be small or medium enterprises (SMEs) based within the East of England that are developing new and innovative products or processes in a low carbon, environmentally sensitive manner. LCIF uses 20.5M from the ERDF which will be matched with over 30M private sector investment, generating a total of over 50M of investment in the East of England. The Fund builds on the region's world class low carbon economy and is the largest (ERDF) funded project in the region. LCIF can invest in a broad range of sectors and targets 3.5M from ERDF to invest specifically in the burgeoning creative industries sector, underlining UEA's commitment to supporting the creative industries, and its desire to increase low carbon practices in local businesses. LCIF offers two routes to funding depending on the amount required and the size and development stage of a company: The Smaller Investments Scheme, for investments between 25K and 75K and; The Main Fund, for investments between 75K and 750K. For the Smaller Investments Scheme contact the LCIF Team on: For the Main Fund contact Turquoise International (The Fund Manager) directly on: For more information about the fund please visit: Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 15

16 GrowthAccelerator GrowthAccelerator is a unique service led by some of the country s most successful growth specialists where you ll find new connections, new routes to investment and the new ideas and strategy that businesses need to achieve their full potential. The national scheme works with clients to get to the heart of the barriers that are holding their businesses back. Whether it s developing a growth strategy for the future, helping them build a case for investment, turning their most innovative ideas into profit or providing training to develop a confident leadership team, the GrowthAccelerator programme enables businesses to rapidly boost their growth potential. To be eligible for GrowthAccelerator, your business needs to: Be determined to grow Be registered in the UK & based in England Have fewer than 250 employees Have a turnover of less than 40 million GrowthAccelerator exclusively targets high growth businesses who want to enter their next growth phase and have the potential and determination to get there. GrowthAccelerator can offer support in one of three areas: Access to Finance Business Development Growth through Innovation Additionally, GrowthAccelerator can provide a 2,000 match funded grant for every senior manager in organisation to undertake leadership and management training. Contact GrowthAccelerator directly on: or by enquiries@growthaccelerator.com For more information about the programme please visit: 16 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

17 Manufacturing Advisory Service (MAS) The Manufacturing Advisory Service (MAS) is funded by the Department for Business, Innovation and Skills. It works to support manufacturers based in England, regardless of sector, with SMEs and large companies eligible. Companies looking to expand into manufacturing from other operations are also accommodated. MAS has three key areas of service provision: Strategy: Including business strategy, low carbon planning, lean manufacturing, sales and E-marketing. Innovation: Both materials and process innovation, CAD, CAM and proof of concept studies. Efficiency: Including waste reduction, quality improvement and resource efficiency. MAS generally provides advice and assessments of manufacturing firms, and can provide a free review of businesses to develop an action plan tailored for their company needs. It also provides grants of up to 3,000 for capital allowances and tool provision. Contact MAS Directly on: or by advice@mymas.org For more information and specific contacts regarding the east of England MAS team please visit: Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 17

18 UK Trade and Investment (UKTI) UK Trade & Investment (UKTI) works with UK-based businesses to ensure their success in international markets, and encourage the best overseas companies to look to the UK as their global partner of choice. UKTI has professional advisers both within the UK and across more than 100 international markets. UKTI has over 300 current clients in Norfolk and Suffolk and is looking to substantially expand this portfolio in light of emerging market opportunities. It is asking companies in Norfolk and Suffolk to consider their potential for export, which many have yet to realise with an increasingly strong UK export market. In the East of England UKTI has three clear objectives to help aid export potential: 1. To provide: UKTI has a vast array of international advisors and market experts to help both first time and experienced exporters. For first time exporters this also includes the Passport to Export scheme: It also provides action plans and strategy management through its Gateway to Global Growth programme, and has recently set up a mid-sized business support scheme to target medium size enterprises. 2.To Deliver: UKTI provides weekly information updates through its website and newsletter, offers consultancy for a subsidised price and conducts around 500 business reports each year in Norfolk and Suffolk. 3.To Help: UKTI offers support grants to firms through its trade show access programme, market visit support grants, meet the buyer events and industry focussed missions. Contact UKTI East directly on: or by info@uktieast.org.uk For more information about the range of programmes UKTI offers please visit: 18 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

19 NWES Enterprise Agency NWES offer a range of business support initiatives covering finance, advice, training and premises in the East of England aimed at anyone who would like help and support in starting or growing a business. Last year they helped over 200 established businesses and over 650 new businesses start trading and for many individuals they are able to provide free initial business advice. Further help can be sought in: Business planning Marketing plans and actions Support in preparing finance proposals Identifying cost savings Environmental planning and; The steps to take in business start-up NWES has recently set up a Ready, Set, Go innovation programme, supported by the European Regional Development Fund. The programme is designed to accelerate innovation in start-ups and established firms. With a dedicated business advisor providing general support on growth along with subjects as diverse as innovation planning and intellectual property rights. Once a business plan has been produced companies are able to apply for a grant of 25% of eligible costs, up to 25,000, to enable them to implement their new product or service. Ready, Set, Go grants of up to 25,000. This can include marketing for the new product or process. The programme is designed to be flexible and is available across Cambridgeshire, Essex, Norfolk and Suffolk NWES also provides loan access where finance from banks is unavailable and free training to start-up firms through Barclays get ready for business workshops. Contact NWES Directly on: or by info@nwes.org.uk For more information about NWES please visit: Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 19

20 OrbisEnergy Centre: Supply Chain Innovation Funding Specialist innovation and incubation centre OrbisEnergy, managed and operated by NWES, is delivering a 1million grant investment support programme, part financed by the European Regional Development Fund. The grant scheme will support small to medium sized businesses to develop new and innovative technologies in the offshore renewable energy. Grants of up to 30% costs or 50,000, whichever is lower, are available. The grant aims to support businesses bring new products, processes and ideas to market, whilst increasing production capacity of existing innovative products and services. Eligibility criteria apply and include: Grant maximum 30% or 50,000 of eligible costs, whichever is the lower. Minimum grant level 2500 Pre-trading and established businesses can apply Businesses must have less than 250 employees and a Balance sheet with net assets of less than 50m Euro s. Businesses must be based in Cambridgeshire, Essex, Norfolk and Suffolk. Business sectors include offshore wind, wave and tidal, other marine renewable energy technologies, and their direct supply chains. Only costs relating directly to the development and introduction of new products, processes and ideas will be supported. A meeting with experienced business development specialists can be arranged by contacting OrbisEnergy on or orbisenergy@nwes.org.uk. An adviser will then check eligibility of the business and costs and assist with the preparation of a business plan and application. 20 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

21 Menta Menta, the Suffolk Enterprise Agency has been established almost 30 years. They provide people across Suffolk with the advice and support they require to start up, and grow their business with one to one advice sessions and a range of informal half day and full day business skills workshops. These workshop and networking events are provided at a subsidised cost for interested clients. Menta s main service is free, impartial one-to-one business advice, for companies of any size and those creating self employment. Experienced advisors are able to assist with all aspects of business, such as: Starting-up Development Marketing Business Planning Assessing Viability Raising Finance Business Skills Seeking Premises Free One to One Sessions are available in Bury St Edmunds, Ipswich, Framlingham, Lowestoft, Saxmundham, Felixstowe, Kesgrave and Haverhill. Contact Menta Directly on: or by info@menta.org.uk For more information about Menta please visit: Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 21

22 Anglia Ruskin University: Low Carbon KEEP scheme The Low Carbon KEEP (Knowledge-East of England-Partners) programme supports SMEs in East of England to innovate and grow through University partnerships and knowledge transfer. By utilising funding to improve internal capabilities and resource efficiency through academic guidance, companies can increase profitability and competitiveness. Projects are managed and delivered by an experienced graduate, working either full or part-time within a business. The graduate acts as a conduit between an academic expert and the company, ensuring that the latest research and expertise is available to the business. In addition, the Low Carbon KEEP Programme has recently introduced Low Carbon KEEP Innovation Vouchers which allow SMEs to purchase academic expertise from the region's Universities and Colleges to support innovation and business improvement. The Innovation Vouchers cover 40% of the costs of purchasing specialist support with values of 1,000 to 5,000, providing up to 12 days of bespoke assistance. Capital funding is available to support both Innovation Vouchers and longer knowledge transfer projects. Funded by the European Regional Development Fund (ERDF), the Low Carbon KEEP grant covers 40% of eligible project costs and up to 40% of capital expenditure. The average contribution expected from the participating business varies from project to project, but on average amounts to 20,000-24,000 per year. To be eligible the SME Partner must: Be based in Essex, Suffolk, Cambridgeshire, Norfolk, Bedfordshire and Hertfordshire (this means their head office address OR that at least 75% of their economic activity is in the East of England i.e. operational activity, spend and staff) Employ fewer than 249 people Is no more than 25% owned by a parent company, or Has received no more than 200,000 euros of state aid in the last three fiscal year Contact Anglia Ruskin directly through Carole Randall, Programme Manager: by carole.randall@anglia.ac.uk or phone For more information about the scheme and successful case study data please visit: medium=url&utm_campaign=redirect&utm_content=lowcarbon.ktp.jan11 22 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

23 Student Enterprise and Employability Development (SEED) The Student Enterprise and Employability Development (SEED) Team is part of the Careers & Employability department of the UEA, and has the skills to support you during business start-up and growth. The department can offer access to specialist business knowledge, contact excellent resource networks and advanced business plans. SEED can provide grants and funding with support from UnLtd, HFCE and Santander. If you need an injection of funding to get an idea moving, a range of small grants can be provided to help social and commercial enterprises develop and grow ideas, no matter what stage they are at. These grants start with proof of concept funding (up to 500) to help you with a specific project to get your business off the ground, such as a market research report, attendance at an event or the purchase of a small piece of equipment. These grants are quick to agree, easy to access and managed by the UEA so that you don't have to worry about anything apart from developing the venture. If you have a more developed idea, you can access larger amounts of seed capital (from 500 up to 3,000). This can be used to directly cover business costs and expenses (although not wages) to really jump start your enterprise. This funding is managed by the UEA, although at this level you can expect to be asked to present your idea to a panel who will further explore the proposal before making a decision on whether to allocate funding. All funding allocations will be supported with mentoring and access to space in the UEA s enterprise hatchery. Proof of concept funding of up to 500. Seed capital funding of up to 3,000. Contact the UEA Directly through: Lucy Watts: Initial Client Contact Officer or careers.centre@uea.ac.uk Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 23

24 Norwich Research Park Proof of Concept Fund This 1.82m Proof of Concept Fund will provide early investments into inventions and new projects to accelerate their journey to becoming commercial enterprises. Backed by the NRP and the Biotechnology and Biological Sciences Research Council (BBSRC), the fund will give researchers the chance to apply for grants up to 30,000. The funding, initiated by UEA, will establish a three-year programme and will help with prototype development, technical feasibility studies, commissioning market assessments, and strengthening the intellectual property position of their ideas. BBSRC is investing 860,000 in the project, a figure which will be match-funded by contributions from the University of East Anglia, the John Innes Centre, the Institute of Food Research, Norfolk and Norwich University Hospital, The Genome Analysis Centre and The Sainsbury Laboratory, alongside 40,000 from Norfolk County Council and 20,000 each from Norwich City Council, South Norfolk Council and the New Anglia Local Enterprise Partnership. This funding will establish an integrated three year programme to fund projects across the Research Park, with preference for those that include cross-park collaboration. Funding is available from August 2013 and will be managed by a Board drawn from business, academia and funding providers. Proposals will be assessed on their technical feasibility, uniqueness, suitability for purpose/application, market potential and/or societal impact. A potential 30,000 grant for researchers looking to commercialise their ideas. The application process for this fund is due to open in the near future. 24 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

25 Agri Innovation Fund This fund looks to support high tech agricultural innovation, with funding coming from the UK Public Sector, Japanese Public Sector and private partners. It will use venture capital to transform businesses, support technological development and encourage commercialisation of ideas that are currently underrepresented in the UK. The fund will co-invest with the Tsukuba Technology Seed Company in Japan, whose extensive global contacts will encourage high quality collaboration and partnerships to drive growth in the agribusiness sectors in both regions. Fund investment will start in Q2/Q and last for 7 to 10 years. Potential applicants can include early stage unquoted firms, and small and medium sized enterprises in the agribusiness sector throughout the UK. Possible areas of Investment are: Industrial crops for materials chemicals and energy Improved farm management/precision farming Food and feed products for sustainability Challenges of using marginal coastal land The fund will primarily be aimed at early to medium stage un-quoted companies, (including those that are pre-revenue). Contact: James Griffiths Project Manager james.griffiths@uea.ac.uk Partner Organisations FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 25

26 EValu8 Innovation Vouchers EValu8 Transport Innovations Ltd is a not for profit organisation running the Government-supported Plugged In Places project in the East of England. This project aims to increase the prevalence of electric vehicles in the region and improve the infrastructure for low carbon transport. As part of this service, it has created an innovation vouchers scheme. The voucher scheme encourages the region s companies to develop new products, services and ideas across the broad area of low carbon transport. Companies based in the region can access specialist consultancy up to the value of 1,000 which can be provided by universities, research institutes, consultancies, or one of a company s own suppliers, to support innovation. Vouchers for innovation consultancy worth up to the value of 1,000. Full details of the scheme and application guidance can be found in the Operating the Innovation Voucher Scheme document, located on EValu8 s website. Contact EValu8 directly: By info@evalu8-ti.org.uk or phone For more information on the scheme please visit: 26 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK Partner Organisations

27 6. Strategic European Union Programmes This section provides an overview of New Anglia s European Investment as well as information about the main EU strategic programmes. Direct funding from these programmes is not an option here, but when considering multi-business large scale projects where key European ideas of social inclusion, innovation, growth and environmental protection are included, these programmes can provide significant funding opportunities. New Anglia s European Investment Strategy The UK Government has invited Local Enterprise Partnerships to develop strategies for the use of European Structural and Investment Funds for the period in their local areas. This development is still in the process, with a draft sent to Government on the 7th of October, and a full strategy developed by January The final EU strategy will be fully aligned with New Anglia s strategic economic plan, which is being developed from the towards a growth plan consultation document. We now know that we have been allocated around 80m ( 94.5m) of EU funding for investment in the New Anglia area. This amount covers European Regional Development Fund (ERDF) and European Structural Fund (ESF) allocations and we are still waiting for rural programmes allocations to be announced. The ERDF has a mandatory 20% allocated spending for low carbon aims, and provisional indications suggest that New Anglia will commit 25% to this cause. The ESF has a mandatory 20% allocated spending for social Inclusion, of which New Anglia is committed to this amount. Project proposals will be established in early Contact New Anglia LEP Directly through Alastair Rhind: European Programmes Manager Alastair.Rhind@newanglia.co.uk European Funding FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 27

28 LIFE+ (Continuing into a strategy) The LIFE+ programme is the EU s funding instrument for the environment. The general objective of LIFE is to contribute to the implementation, updating and development of EU environmental policy and legislation by co-financing pilot or demonstration projects with European added value. LIFE will promote implementation and integration of environment and climate objectives in other policies and Member State practice, including mainstreaming; environment & resource efficiency, Biodiversity considerations and environmental governance. Budget: 2.400m for Environment and 800m for Climate Action Calls for projects are annually through the members State and will be on specific themes. Funding can be in the form of action grants, integrated projects, research studies and the possibility of using innovative financial instruments. Creative Europe Strategy From 2014 Creative Europe will replace the MEDIA, MEDIA Mundus and Culture programmes with a new prospectus ready by the end of Creative Europe will build on the successes of the previous programmes. The aim is to further strengthen cross border cooperation between the creative sectors within the EU and beyond. Through Creative Europe the cultural and creative sectors will contribute to cultural diversity as well as to growth and jobs in Europe in line with the "Europe 2020 Strategy" for smart, sustainable and inclusive growth. With a total budget of 1.46 billion ( ), Creative Europe represents a budget increase of 9 % compared to the previous programmes 28 FUNDING INFORMATION FOR NORFOLK AND SUFFOLK European Funding

29 Horizon 2020 Horizon 2020 is the financial instrument implementing the Innovation Union, a Europe 2020 flagship initiative aimed at securing Europe's global competitiveness. The programme will run from 2014 to 2020 with a budget of just over 70 Billion and aims to drive innovative growth and create sustainable jobs. The programme simplifies structures of three previous frameworks; Research and technical development, competitiveness, innovation and technology, into one clear set of rules. The proposed support for research and innovation under Horizon 2020 will: Strengthen the EU s position in science with a dedicated budget of 24 million. This will provide a boost to top-level research in Europe, including the very successful European Research Council (ERC). Strengthen industrial leadership in innovation 17,015 million. This includes major investment in key technologies, greater access to capital and support for SMEs. Provide 30,956 million to help address major concerns shared by all Europeans such as climate change, developing sustainable transport and mobility, making renewable energy more affordable, ensuring food safety and security and coping with the challenge of an ageing population. As Horizon is such a broad programme funding can take many forms, calls for funding proposals are expected to be announced in December Or Contact the East of England European Partnership Directly: By phone or online Smart Cities The European innovation partnership for smart cities has now produced its strategic implementation plan for the period The plan seeks to significantly accelerate the industrial-scale roll-out of smart city solutions integrating technologies from energy, transport and ICT. These sectors can contribute vastly to making cities more sustainable, efficient and liveable. Plans include creating pioneer low carbon neighbourhoods in cities, allowing transfers of Smart city analysts across the EU to facilitate best practice transfer and creating cycle city networks to link city areas. The scheme has a 200 million budget running from Consultation is on-going for the document, with an action plan due to be ready by December The Full Smart cities plan can be found here: Contact the East of England European Partnership Directly for further guidance: By phone or online European Funding FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 29

30 Erasmus for Young Entrepreneurs Erasmus for Young Entrepreneurs helps provide aspiring European entrepreneurs with the skills necessary to start and successfully run a small business in Europe. New entrepreneurs gather and exchange knowledge and business ideas with an experienced entrepreneur, with whom they stay and collaborate for a period of 1 to 6 months. The programme encourages the participation of both: Aspiring or new entrepreneurs Experienced entrepreneurs As a new entrepreneur, you will benefit from on-the-job training in an SME elsewhere in participating countries. As a host entrepreneur, you can benefit from fresh ideas from a motivated new entrepreneur in your business. The stay is partly financed by the European Commission and whether you are a new or highly experienced entrepreneur, the programme can offer strong added value to your business. Possible benefits include: Exchange of knowledge and experience, Networking opportunities across Europe; and New commercial relations Erasmus for Young Entrepreneurs is managed by NWES across Norfolk, Suffolk, Cambridgeshire and Essex. If you would like to find out more please contact NWES directly through: Richard Salmon by richard.salmon@nwes.org.uk or call on FUNDING INFORMATION FOR NORFOLK AND SUFFOLK European Funding

31 European Fisheries Fund (EFF) Updated The EFF is the proposed new fund for the EU's maritime and fisheries policies for The new fund will help fishermen in the transition to sustainable fishing through supporting coastal communities in diversifying their economies. This is highly relevant to the New Anglia area, with a number of active and historic coastal fishing communities in the region. This will be achieved through finance projects, which will make it easier to access financial loans and grants that help create new jobs and improve quality of life along European coasts. The new fund will be used to co-finance projects, along with national funding. Each country will be allocated a share of the total fund budget, based on the size of its fishing industry. Each country will then draw up an operational programme, saying how it intends to spend the money. Funding guidelines are yet to be decided by central government, pending the final submission of the European document. Previous EFF schemes included grant funding and alternative finance schemes for coastal communities and the fishing industry. European Funding FUNDING INFORMATION FOR NORFOLK AND SUFFOLK 31

32 New Anglia Local Enterprise Partnership, The Walpole Suite, Ketteringham Hall, Wymondham, Norfolk NR18 9RS. Tel: Website: New Anglia LEP LinkedIn newanglia lep