Eligibility – your project
We can fund a range of projects that bring something new to your business.
The funding can provide a grant towards bringing in external expertise that will enable the business to deliver an innovative project and/or towards the cost of equipment that will help the business adapt or adopt new technology.
For a project to be eligible for this grant funding, it must meet the following criteria:
- It must be able to be completed, paid for and the grant claimed before the end of any Funding Contract and no later than 31st March 2022 – the maximum length of your funding contract will be five months.
- It must be focussed on innovation – this is either:
- developing a product or service that is new to the business.
- developing a product or service that is new to the market, or
- bringing in a process, practice or technology that is new to the business.
- It will respond to a clearly identified market need, challenge or problem.
- It must be able to identify, explore or deliver a clear route to market with economic impact or demonstrate a clear societal impact through innovation.
- Any economic or societal impact, which is forecast to be delivered as a result of the project, must be expected to occur before the end of September 2022. For example, a project that is expected to lead to the launch of a product in 2023 would not be eligible.
- Research and Development projects can only be considered where they will lead to the imminent commercialisation of new products or services.
Please note – no project work can commence, and no payments can be made, until a Funding Contract has been awarded and signed by all parties
Examples of eligible projects
The funding can be used towards a variety of projects, examples of the types of project that can be funded include:
Design, development, coaching or consultancy support that will help the business to deliver their innovation project. Examples of projects include:
- Process Improvement Consultancy to:
- Develop new work practices and processes to help the business operate more efficiently which could include contributing to the Net Zero Agenda.
- Develop improved Cyber Security protocols.
- Develop new approaches to Data Management and Analytics.
- Product development – Consultancy or Design support to help bring a new or improved product to market.
- Design and Development of new-to-company software or other IT Solutions.
- Leadership and Management Development – Coaching/Training related to company innovation/evolution (Qualifications and Accredited Courses cannot be funded).
- Marketing Support to:
- Develop a Marketing Strategy to bring a new product or service to market.
- Design and produce a new or enhanced website to help the business trade online (like for like replacement websites cannot be funded).
Most equipment that will help businesses to adapt or adopt new technology or processes can be funded. Examples of equipment purchases where a grant may be awarded:
- New IT equipment to help the business adapt to new working practices (for example, the introduction of Point of Sale Equipment) or to help the business bring a new product or service to the market.
- Production machinery to enable a new product to be brought to market.
- Software purchases to help the business work more efficiently or bring a new product / service to market – only the outright purchase of Software may be eligible, monthly or quarterly recurring costs are not eligible for support.
- CRM purchases to enable the business to operate more efficiently – only the outright purchase of a CRM may be eligible, monthly or quarterly recurring costs are not eligible for support.
Please note – the funding cannot pay for ‘business as usual’ costs (including the purchase of standard IT equipment for new staff) or for the replacement of existing equipment.
The examples provided above are not an exhaustive list – projects and costs will be assessed for suitability as part of the grant application process
If your Application is successful you will be asked to source proposals/quotes from providers/suppliers for the work or equipment you intend to use the funding towards – we will need this before we can issue your funding contract.
As the Funding Programme closes in March 2022 time is running out for the delivery of projects. In order to ensure you receive your Funding Contract in a timely manner you may wish to start gathering the required Procurement Evidence
In terms of Procurement Evidence one of the following is required:
- Copies of proposals/quotes received from 3 different providers/suppliers for the work or equipment you intend to use the funding towards
- Evidence of seeking 3 proposals/quotes (this may be evidence of an email request providing a project specification / requirements)
- Justification where only 1 provider/supplier can undertake the work / supply the equipment
Please note – the success of your Application for Funding cannot be guaranteed so please do not commit to undertake any work or purchase any equipment. Also, do not make any payments to any provider/supplier prior to receiving and signing a Funding Contract (any payments made prior to a Funding Contract being in place will not be eligible for the Grant)
If you have a project in mind but aren’t sure whether it would be eligible for a grant, you can get in touch with one of our Innovation Advisers before you apply to talk through your ideas.
Just email [email protected] and one of the team will get back in touch.
Your business should be eligible for funding if it’s a trading SME based in the North of Tyne area.
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.