Funding in Cornwall Update

19.04.11

Three major updates on the funding scene in Cornwall, have recently been announced. As a Tier 1 EU Convergence area, Cornish businesses can access more funding than anywhere else in the UK, and the announcement of these funds adds to the attractiveness of choosing Cornwall as a business location.

Grant for Research and Development

Funding has re-opened for the Grant for Research and Development. The fund, which was previously managed by the Southwest Regional Development Agency, supports SMEs to engage in projects in the strategically important areas of science, engineering and technology from which successful new products, processes and services can emerge.

With three types of grants available: Proof or Market Grant, Proof of Concept Grant, Development of Prototype Grant from £25,00 to £250,000 the fund is run on a rolling basis with judging 5 times per year.

For more information, contact The Technology Strategy Board's dedicated business support number on 0300-3214357 or email, support@innovateuk.org or visit http://www.innovateuk.org.

Low Carbon Grant Fund

The £5.0m fund, which is supported through the Convergence European Regional Development Fund (ERDF), assists eligible SMEs in their improvement of energy and resource efficiency. This may include the generation of low carbon energy, supply chain development, research and development links, and best practice dissemination.

Eligible ERDF businesses seeking grant support of between £70,000 to £1.0m who can provide suitable match funding, should express interest as soon as possible, by contacting Janet Bowen on 0300-1234100 or email, jbowen@cornwall.gov.uk.

Renewable Heat Incentive

With a total budget of £800m from now until 2014, The Renewable Heat Incentive (RHI) will provide long-term financial support to renewable heat installations (domestic and non-domestic) to encourage the uptake of renewable heat.

Further details are available from DECC (Department of Energy & Climate Change) or The Carbon Trust on 0800-0852005 or click here.