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Carlisle City Council is providing local businesses with free access to its local business support and grant portal provided by Open4Business. This is tailored for the Carlisle area and includes local, regional and national schemes.

Business can also search for funding relevant to their size and sector. To use the portal, you will first need to register with Open4Business.

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Grantway is a new grant search portal available completely free of charge.

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IUK Launches First Round of Future Economy Investor Partnerships SME Competition

Business, Enterprise and Regeneration

22 March 2023/Categories: Grants_and_Funding

UK registered businesses can apply for grant funding alongside private investment from selected investor partners.

Innovate UK (IUK) has selected a pool of investor partners to invest in innovative, technology-led businesses that align with IUK programmes. The Future Economy Investor Partnership Programme brings together:

  • IUK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses.
  • Investor partners’ aligned funding and expertise in identifying opportunities and teams that can best use extra investment finance.

This approach aims to provide applicants with support for research and development and access to the capital investment needed to develop and commercialise innovations. IUK is looking to support projects that focus on the future economy areas included in the IUK plan for action. The broad theme areas are:

  • Net zero
  • Health and wellbeing
  • Next generation digital technologies and technology families

Each project’s total costs will depend on the research category and must be between: £50,000 and £300,000 for feasibility studies; £100,000 and £1 million for industrial research; £250,000 and £2 million for experimental development.

The competition is open to single applicants only. UK registered micro, small or medium sized businesses (SMEs) may apply. They must carry out the project work in or from the UK. Applicants must have discussed and agreed their proposal with their investor partner before submitting an application.

Applicants must be able to raise the aligned finance needed to draw down the award, through the issue of new shares or convertible debt. They must also demonstrate that if the project is funded, it will have significant market impact, be scalable, and be attractive to other equity investors.

The deadline for applications is 10 May 2023 (11:00 BST).

 

How To Apply

The competition opened on 16 March 2023. The deadline for applications is 10 May 2023 (11:00 BST).

Applications are made online. More information can be accessed at the Innovate UK website.

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