A £1 million fund has been launched to help Cumbrian SMEs to innovate and cut carbon emissions.
Cumbria Local Enterprise Partnership has created the Innovating for Success fund and said it was open to any small or medium-sized firm in the county.
Applications are now open for the first-of-a-kind scheme, with two options for applicants:
- Innovation: Maximum grants of up to £50,000 to part fund initiatives that turn new ideas into commercially viable and deliverable propositions. (Up to 30 grants expected)
- Carbon reduction: Maximum grants of up to £20,000 to part fund practical projects that will help businesses reduce energy usage or increase renewable energy production. (Up to 20 grants expected)
Successful projects could include the creation of a new prototype product or proof of concept, as well as investment in renewable energy sources or energy efficiencies, the partnership said.
Jo Lappin, chief executive of Cumbria LEP, said: “Cumbria is fortunate to have talented business leaders, with great ideas and a determination to leave a positive imprint on the region. However, they are not only faced with the day-to-day challenges of running a business but can also face barriers to diversifying and bringing new ideas to market. Access to funding is one hurdle that has been raised time and again by our businesses when receiving business advice from the LEP.
“We’ve listened and are proud to be actively supporting Cumbria’s businesses to both innovate and reduce their energy costs. The Innovating for Success programme will deliver one-off grants to part fund businesses to bring forward their projects right here in Cumbria. It will also contribute to our region’s leading role in achieving net zero in the UK by supporting enterprises to reduce their emissions and energy usage.
“We’d encourage as many businesses as possible to get in touch.”
Interested businesses are being encouraged to find out more and submit an initial Expression of Interest by Friday October 28.
More information on the Innovating for Success scheme can be found at www.thecumbrialep.co.uk/innovating-for-success/. Businesses should email info@thecumbrialep.co.uk to receive the full expression of interest information pack.
