18th May 2012
Access to £80m of DTI funds for region’s businesses
8th May 2006
The DTI has launched its £80 million ‘Spring Competition for Funding’, and the East of England Development Agency (EEDA) is urging businesses in the region to apply for their share of it.
The funding is designed to assist companies that are in the process of exploiting emerging technologies and looking to take their ideas out of the lab and into the marketplace.
David Marlow, EEDA chief executive, said: “This is an excellent opportunity for many companies in the East of England that are working on groundbreaking new technologies to get the extra help that they need to succeed. Many companies in the region are eligible for this type of award, but most simply don’t know the best way to go about applying for one or how to form collaborative partnerships.”
In order to give more companies in the region help on how to apply for the funds and seek appropriate partners, EEDA has financed an advice service at St John’s Innovation Centre in Cambridge, part of its network of enterprise hubs. This assistance will include helping applicants to find appropriate partners, signposting them in the right direction, and providing advice on how to best fill out applications.
“This region already has an impressive record in research and development,” added David Marlow, “but we want it to form an even bigger part of our economy, particularly through the engagement of small and medium-sized businesses. This service will not only give these businesses the expert help and advice they need on how to apply for the funding, but also it will give them access to the ‘peer’ knowledge they require. This will enable them to invest in their future and achieve growth in new and pioneering areas.”
The money, announced by the Secretary of State during his budget address to Parliament, is the latest round of the Government's £370 million Technology Programme, which aims to create wealth for the UK’s economy through innovation. The funding is part of bi-annual competition, underpinned by the Government’s three-year investment to stimulate collaborative research and development in seven key technology areas that are critical to the UK's economic growth. Support for the competition is also being provided by all the research councils.
Businesses that are interested in receiving funding should contact Dr Alex Smeets at St John’s Innovation Centre on 01223 422210 or email him at asmeets@stjohns.co.uk.
