Do you have an innovative idea that could make a real impact on your business? Think it’s unachievable due to budget constraints? Think again.
There’s a fantastic innovation support and grants programme based at the University of Hull that we want to spread the word about. It’s called SparkFund, and offers SMEs based in the Humber, York and North Yorkshire Local Enterprise Partnership (LEP) areas grants to fund innovation, R&D and low carbon projects.
The initiative is supported by the European Regional Development Fund (ERDF), and will be available until 2021, with all grants match-funded by the SME. It aims to help businesses progress and develop their ideas, whether that’s implementing a new internal process to add value to the business or taking a brand new product or service to market. SparkFund’s support goes much further than just funding though. The team can introduce you to innovation managers and deliver specialist knowledge, too.
There’s various levels of support available, including the following:
Innovation vouchers
Make your idea a reality with assisted funding applications, access to experts and specialists in your sector. When you invest, SparkFund could match it with up to £20k of support.
R&D grants
Want to develop a new product or service, or improve an existing one? SparkFund’s experts can help to shape your ideas, and when you invest, could match it with up to £50k of support.
Low carbon R&D grants
This option is ideal for SMEs that need help developing an idea that could reduce the carbon footprint of their business, market or customers. When you invest, SparkFund could match it with up to £50k of support.
SparkFund has helped a variety of local SMEs, including local fitness charity Fitmums and Friends. They needed help funding the development of a ‘Mumbot’ app that would revolutise their internal processes whilst helping them to expand into new locations. Find out more about the project here.
Interested in applying? Simply fill-in this short contact form and someone from SparkFund will be in touch. It’s that easy!
