Suffolk Innovation Support
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Unlock Innovation with the Growth Through Innovation Fund (GTI)
The Suffolk team at the New Anglia Growth Hub is here to support your business with grants up to £25,000, helping you invest in innovation, research, and development. If you have plans to embark on an R&D or innovation project, you could benefit from a substantial grant through the Growth Through Innovation Fund.
CLICK and Listen to Scott Burdon explain How The Suffolk Growth Through Innovation Fund works
Unlock Innovation with the Growth Through Innovation Fund
The Suffolk team at the New Anglia Growth Hub is here to support your business with grants up to £25,000, helping you invest in innovation, research, and development. If you have plans to embark on an R&D or innovation project, you could benefit from a substantial grant through the Growth Through Innovation Fund.
Key Details:
Grant Amounts: Between £2,500 and £25,000.
Funding Coverage: Up to 45% of the total eligible project costs.
How Can the Grant Help Your Business?
Prototyping: Cover the costs of designing, building, and testing prototypes of new or improved products.
Specialist Knowledge: Invest in external expertise to enhance your business’ products, services, or processes.
R&D Equipment: Acquire essential testing equipment for research and development.
Digital Technologies: Adopt novel or innovative digital technologies to boost efficiency and productivity.
Patenting: Fund the patenting process for your ideas or inventions.
Impact of the Growth Through Innovation Fund:
Total Awarded: £2.3 million
Projects Supported: 154
Private Match Funding Generated: Nearly £3.1 million
Figures as of: March 2023
Watch and Learn:
Check out this video to hear from three companies that have benefited from the scheme.
Frequently Asked Questions:
Q1: What is the purpose of the Growth Through Innovation Fund?
A1: The Fund aims to support businesses in Suffolk with grants to help cover the costs associated with innovation, research, and development projects.
Q2: Who is eligible to apply?
A2: Businesses looking to invest in R&D or innovation projects can apply for the grant, provided they meet the criteria set by the Growth Through Innovation Fund.
Q3: How much funding can a business receive?
A3: A business can receive between £2,500 and £25,000, covering up to 45% of the total eligible project costs.
Q4: What types of projects are eligible for the grant?
A4: Projects involving the design, building, and testing of prototypes, investment in external specialist knowledge, acquisition of R&D testing equipment, adoption of innovative digital technologies, and patenting of ideas or inventions are eligible.
Q5: How can businesses apply for the grant?
A5: Businesses can apply by contacting the Suffolk team at New Anglia Growth Hub, who will guide them through the application process.
For further assistance and to apply, get in touch with the Suffolk team at New Anglia Growth Hub. Empower your business to innovate and grow!