Business Grants
If you are in business or thinking of setting up a new business and require funding, then a range of options are available in the borough of Great Yarmouth.
The links below provide detailed information, complete with full contact details.
The Grants and Support Directory allows you to search for potential sources of help with starting up or business development. The database contains grant and support schemes from central and local government as well as private organisations.
Some of the schemes offer financial assistance, while some offer free or subsidised services ranging from advice through to practical involvement with projects. While many schemes are available nationally, some are targeted locally. Depending on your location, type of business and what you need the funds for, you may be eligible for a number of schemes in the Grants and Support Directory. Applying for a grant can be a highly complex process.
You may want to contact your local Business Link for help and advice with your application.
The following grants are available through the East of England Development Agency
Are you an innovative business? Does the opportunity to develop new products and relationships with business partners across mainland Europe appeal to you? If so, EEDA's Framework 7 Support package could offer you a helping hand.
What is it?
Creating new products and services that convincingly out-perform competitors' offerings is seldom cheap or simple. And that's why smart firms are using new approaches to build business development networks. Boasting a budget of over £50 billion, Framework Programme 7 (FP7) is the European Union's biggest initiative for funding collaborative research and development projects across Europe. Moreover, it could provide your businesses with a unique opportunity to build those pan-European supply chains while developing new products for international markets.FP7 project proposals should be developed by a collaboration of organisations, which may include small to medium-sized enterprises, larger businesses and research institutions. Furthermore, there should be representation of at least three separate EU countries within the consortium. Involvement in such collaborations can offer your business rich rewards including control over of a wealth of intellectual property borne out of the project, easy-access to highly knowledgeable and skilled partners, as well as the opportunity to develop and promote new products to international customers.
What support is available?
EEDA's FP7 support package can help your business access this wealth of funding in a number of different ways:
Helping you to lead and coordinate a proposal submission - by providing grants of up to 50 per cent to help you cover the costs of forming consortiums and building high-quality project proposals
Helping your business to participate in FP7 projects already being managed by other organisations - by profile matching your business' qualities and skills against the requirements of other proposal-submitting organisations
Helping your business, having already won an FP7 proposal - by providing grants of up to 50 per cent to fund the costs of training and coaching that your business requires to deliver an FP7 project. In addition, training opportunities are available to your business if you have written regional, national or European Commission research and development proposals. This will help you to understand and adhere to rigorous European Union standards.
Am I eligible?
You are able to enter if you are a research and development-focused business located in the East of England (Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk)For further information and application details please visit the EEDA website
Grants for Research & Development
Do you have an innovative technology with commercial potential? Are you facing technical challenges to develop your idea and need financial support to help you overcome them? Well don't let good ideas go to waste - the Grant for Research and Development could help move your technology a step closer to the marketplace.
What is it?
The Grant for Research and Development is designed to help technology-focused entrepreneurs carry out research and development work on innovative products and processes. There are four tiers of grant available, each supporting a different aspect of research and development:
Micro project grant
Research project grant
Development project grant
Exceptional development project grant
Am I eligible?
You can apply for the grant if you are a small to medium-sized business, or plan to set up a business, in the East of England (Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk). For specific grants, the following criteria apply:
For a micro project grant your business must have less than 10 full-time employees and a turnover of no more than €2 million
For a research project grant your business must have less than 50 full-time employees and a turnover of no more than €10 million
For a development project grant or an exceptional development project grant your business must have less than 250 full-time employees and a turnover of no more than €50 million.
What are the assessment criteria?
EEDA appraises applications against a range of criteria. The principal criteria are:
The level of technological innovation involved with the project
The commercial potential of the product/process
The experience, skills and track record of the applicant and business
The need for the grant - grants will only be given if essential for the project
The wider environmental or social benefits of the project.
For further information and application details, please visit the EEDA website
Do you have a business concept that could become a major commercial success? Have you developed your business concept, but now need support to take it to the next level? Would you welcome the injection of funds that will help you better understand the market for your product?
What is it?
The proof of concept fund is a £1.5 million grant scheme designed to help entrepreneurs from all backgrounds in the East of England undertake market assessment and test the commercial viability of their business concept The grant scheme is specifically aimed at supporting market research including market testing and competitor analysis Grants of between £5,000 and £40,000 are available but limited to 75 per cent of the projects total costs.
Am I eligible?
You can apply for the grant if you are an entrepreneur, a small to medium-sized business or working in an academic or research institution, and have developed a concept that now needs funding to test its market potential prior to launch. Innovative business ideas at different stages of development will be considered, from those at an early stage, to those that have been under development for a number of years. You must be based in the East of England (Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk).
What are the assessment criteria?
EEDA appraises applications against a range of criteria with the process culminating in the opportunity for you to present your concept to a panel of technical and business assessment experts. The principal criteria are:
An assessment of research and development undertaken to date
A clear plan of what is to be undertaken with the funding
The commercial potential/market need
The level of innovation demonstrated by the concept and the associated intellectual property position
The abilities and experience of the management team associated with the project
The impact that the product will have on the region.
Your project must be completed within six months of the grant award being made. For further information and application details, please visit the EEDA website
Grant for Business Investment offers grant support for sustainable business investment and job creation projects in disadvantaged areas in the East of England
What is it?
Grant for Business Investment (GBI) forms part of 'Solutions for Business' - a highly targeted, publicly funded suite of products and services offering solutions to real business needs and tackling market failure. GBI is a national scheme, managed regionally by EEDA, supporting businesses to make investments to set up, expand, diversify and modernise. Typically, a grant is offered to support the acquisition of key assets, such as buildings, plant and machinery and to support the creation of new jobs or to safe guard existing ones. Grants will, on average, cover 10 to 20 per cent of the project's total cost. £10,000 is the minimum grant value available.
Am I eligible?
Businesses of all sizes can apply for GBI, but those that are not small or medium sized enterprises (SMEs) can only apply if the investment projected is located within an Assisted Area (certain areas of Luton and Dunstable). Most industry sectors are eligible for support. However, specific industries are excluded by national and European rules (e.g. agriculture, farming and fisheries, the coal, steel and synthetic fibres industries, transport and shipping) Click here for details of further possible sector restrictions.
What are the assessment criteria?
The company undertaking the investment project must be viable and the project must have a good chance of being self-sustaining by the completion of the investment The investment project must deliver an improvement in productivity, based on the value of gross valued added per full-time equivalent employee measured against the sector and national averages; The project should contribute positive benefits to both the regional and national economy; and Larger projects must create or safeguard skilled employment. Other considerations which apply will be taken into account on a case by case basis.
How do I apply?
Applications can be made all year round. The first step is to complete and return a pre-application questionnaire to check for any initial restrictions that may apply. You may then submit a full application which must be accompanied by various supporting documents. A checklist is provided towards the end of the application form. For further information and application details please visit the EEDA Website
Innovation vouchers are designed to help businesses in the East of England purchase academic expertise from the region’s universities and research institutes to support innovation and business improvement.
The voucher will entitle businesses to purchase specialist consultancy up to the value of £3000, which will provide up to one week of consultancy.
Easy to apply for and easy to spend, the vouchers enable businesses to work with academic institutions to investigate and resolve a business issue, quickly, efficiently and through a source not previously utilised.
Innovation Vouchers form part of Solutions for Business, a highly-targeted, publicly-funded suite of products and services offering solutions to real business needs and tackling market failure.
Round 2 of the scheme opened for applications on Monday 14 September 2009.
How the scheme works?
Eligible businesses need to submit an application form by 5.00pm 12 October 2009. See How to apply? for details.
Eligible applications will be awarded vouchers on a lottery basis, subject to the application addressing of one or more of the assessment criteria.
Successful applicants will be notified in writing within two weeks of the closing date for applications.
Applicants will then be matched to the most appropriate university or research institute by a specialist broker appointed by EEDA.
Am I eligible?
All small and medium enterprises (SMEs) registered and operating in the East of England are eligible to apply for an Innovation Voucher. By SME we refer to organisations that are registered companies with fewer than 250 employees and an annual turnover of less than €50 million.
What are the assessment criteria?In reviewing the application, EEDA will be looking to ensure that proposed project/collaboration will lead to one or more of the following:
future joint working with universities and research institutes
the creation of new jobs.
the filing of patents or licensing agreements
improved levels of customer satisfaction with the support provided (e.g. ease of access to the product, application process etc)
the introduction of a new/improved product or service
the creation of linkages with external science, engineering and technology sources
Preference will be given to businesses that have not already redeemed an Innovation Voucher. Website and marketing assistance are provided through Business Link and other organisations, support for these areas will not normally be eligible under the Innovation Vouchers scheme.
Any questions?
If you have any question, please email innovationvouchers@eeda.org.uk.
How to apply?
Eligible businesses must submit their applications for the scheme to EEDA no later than 5.00pm on Monday 12 October 2009. Guidance notes and an application form can be downloaded from the resources box below.
All application forms must be posted to the following address:
Innovation Vouchers c/o Katie Robinson
EEDA
Victory House
Vision Park
Chivers Way
Histon
Cambridge
CB24 9ZR
You can submit an email version of your application prior to the closing date to innovationvouchers@eeda.org.uk, however this must be followed up by posting a signed hard copy to the above address.
Successful applications will be required to complete their collaboration and redeem their voucher by 26 February 2010.
Further Information
Contact Us
Tel: 01493 846108
Fax: 01493 846405
Economic Development
Town Hall,
Hall Plain,
Great Yarmouth,
Norfolk,
NR30 2QF
Open: 9am to 5pm, Mon to Fri
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