Grants for equipment to enable innovation in small businesses in York, North Yorkshire and East Riding.

The grant is to help small businesses in York, North Yorkshire and East Riding ( Not including Hull) to improve their products and processes by providing grants for equipment which enables innovation

• 40% grant for equipment that enables innovation, up to a value of £20k.
• Expert business development support to help develop funding proposals.
• Guidance and advice available at every step of the application process from an experienced team

What is Innovation?

Innovation is the gradual, step change or market-altering development of products and services to support the needs of customers and the business.

Innovation is vital to remain competitive in today’s fast moving markets and can lead to increased profits, new customers and markets.

Eligibility

Companies must be based in York, North Yorkshire or East Riding

Companies must meet the definition of a Small or Medium Enterprise (SME)

• turnover of less than €50 million or balance sheet total of less than €43 million
• less than 250 employees

Companies must be engaged with the following sectors:

• Bioscience
• Digital & creative media
• Electronic-based
• Food and drink
• Health and social care
• Manufacturing using biological & chemical materials

All purchased equipment must remain located in the York, North Yorkshire and East Riding region so as to contribute to the regional economy. Mobile assets, such as vehicles, are specifically listed as ineligible for ERDF funding as they can easily be used out of region.

General office equipment and consumables are ineligible for funding as they may not be 100% allocated to the funded project activity and/or not directly related to the generation of project outputs.

Applications

Applications are made through an initial Expression of Interest form. Our project team will then work with you to develop a full funding application.

Funding applications are assessed by a panel .

The panel assess the applications based on their innovation capacity and impact on the business.

Applications  open on the 13^th March  2017 with a deadline for Expressions of Interest is 5th May 2017.  Companies whose Expressions of Interest are suitable will then be provided with a full funding application for submission. Successful applicants will then be contracted and supported to secure their equipment.

More details can be found at http://www.papi.org.uk/

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