New innovation funding to boost business growth in North of Tyne.
Funded through the North of Tyne Recovery Innovation Fund, this new grant programme has been designed to help businesses grow by adopting innovative practice or by bringing innovative products or services to market.
The Innovation Recovery Grant has been launched by the North of Tyne Combined Authority following the impact of COVID-19 and the need for business support. It aims to enable a green and sustainable recovery by funding projects that have potential to safeguard and create good quality jobs, build a more inclusive economy and/or contribute towards the net zero agenda.
This innovation funding is open to SME’s and Social Enterprises working in all sectors and are based in Northumberland, Newcastle or North Tyneside.
The Innovation Recovery Grant covers 50% of eligible business spend towards Innovation Projects totalling between £10,000 and £20,000 (excluding VAT). Grants of between £5,000 and £10,000 are available.
Your business should be eligible for funding if it’s a trading SME based in the North of Tyne area.
Your project needs to be innovative. That means it’s changing something for the better in your business – it could be a new product, an improved service or a new way of working, but it needs to be something you’ve never done before.
Accessing the North of Tyne Innovation Recovery Grant is very straightforward – you could have a decision on your grant application within a few weeks.
Apply for a grant
We’ll need to know some details about your business, the project you’d like to fund with a North of Tyne Innovation Recovery Grant and how it will help.