grant aid
National Sources
Two sources of grant aid will be of particular interest to Innovation Centre clients:-
- Grant for Research and Development
- Selective Finance for Investment in England (SFI)
Under these two schemes, the higher level Tier 2 status will apply.
A Grant for Research and Development is offered by the DTI for start-up and existing SMEs in England to carry out research and development work that will lead to technologically innovative products or processes. Four types of grants are available ranging from the micro to exceptional development levels.
Selective Finance for Investment in England (SFI) is a discretionary grant offered by the DTI aimed at encouraging investment in projects that lead to long-term improvements in productivity, skills and employment.
Offers of grants are dependent on levels of capital expenditure and the creation of new job opportunities.
DIDA’s experts will be able to advise on both of these two schemes.
Local Sources
Derwentside District Council offers a Business Development Grant based on capital expenditure and job creation. It also offers a grant specifically related to users of IT, known as Emerge. In addition, the Council offers Marketing Advice.
County Durham Development Company (part of Durham County Council) offers a variety of grants. Of particular relevance to Innovation Centre clients is the Strategic Investment Grant which is intended to stimulate and encourage scientific and technological research and development businesses.
These local grants are offered on a discretionary basis and clients are advised to seek DIDA’s help in arranging a meeting with representatives of the authorities to discuss the levels of grant available.
The Business Support Network for County Durham offers start-ups and small businesses a brokerage service through which a grant of 45% is available towards the costs for consultancy services.
This form of assistance could be particularly relevant to Innovation Centre clients looking for specialised technical services during the product development and project management phases of their businesses.
DIDA is a partner in the BSN for County Durham, and clients will have the benefit of easy and speedy access into the BSN system.
