Time is running out to boost your North of Tyne business with innovation funding.
Businesses looking for funding support don’t have long to access the North of Tyne Innovation Recovery Grant, launched by the North of Tyne Combined Authority following the impact of COVID-19 and the need for business support.
Funded through the North of Tyne Recovery Innovation Fund, the grant programme has been designed accelerate the region’s economic recovery by helping businesses grow through innovation, whether it’s innovative processes, products or services. It also aims to enable a green and sustainable recovery by funding projects that have potential to safeguard and create quality jobs, build a more inclusive economy and/or contribute towards the net zero agenda.
The North of Tyne Innovation Recovery Grant is open to SMEs and Social Enterprises working in any sector based in Newcastle, North Tyneside and Northumberland. If your business will benefit from grant funding, read our eligibility criteria below and be sure to apply before time runs out.
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. We’ll need details of your innovation project so be sure to be prepared before you apply so that we can process your application as quickly as possible!
Accessing the North of Tyne Innovation Recovery Grant is very straightforward – you could have a decision on your grant application within a few weeks. Time is running out to apply, so make sure you have the documentation you need to apply.
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.
What is innovation?
We know that innovation means something different to everyone, but we also know that most businesses are being innovative without even knowing it. Innovation means anything that is new to a company that helps it to increase productivity, performance, or efficiency.
We’re looking for innovations that produce a tangible result to your business or the wider community. This could be with a new technology to increase productivity, the digitisation or automation of business processes, or bringing a new innovative product to market. So, if you’re looking at the future for your business and think grant funding can make an impact, apply now before it’s too late.