The Business Innovation Fund assists eligible businesses with:
- Grant funding of £20,000 or £50,000.
- An offer of bespoke assistance to help beneficiary companies develop an R&D roadmap.
- Connection with our region’s leading research organisations.
Expression of interest and the application process
Research, development and innovation can help your business adapt for the future, get ahead of the competition, develop commercially attractive products, processes and services to reach new customers, and create jobs.
The Business Innovation Fund can support you to do this.
You must be an SME based in the West of England and be able to match-fund the cost of your project. We’ll also require you to complete your project within 12 months of the grant award.
The process is simple:
Read the Business Innovation Fund – Grant Guidance and check you meet our basic criteria.
Complete and submit an Expression of Interest (EOI) form whilst the application window is open. Please note it is not first come, first served. All EOIs will be assessed when the window closes.
When the application window closes our team will review your EOI for eligibility contact you with a decision. If you pass eligibility checks you will be invited to submit a Full Application.
Your Full Application will then be reviewed by our team, plus independent assessors and advisors.
Recommendations for grant awards will be considered and you’ll be notified of the decision. Successful applicants will receive an offer of funding detailed in a Grant Funding Agreement.
The Business Innovation Fund is supported with £1,451,825 of funding from the European Regional Development Fund (ERDF), which is part of the European Structural and Investment Funds 2014-2020. The Ministry of Housing, Communities and Local Government is the Managing Authority for ERDF. Established by the European Union, the ERDF helps local areas stimulate economic development by investing in project which will support innovation, business, create jobs and delivery local community regeneration. For more information visit: https://www.gov.uk/guidance/england-2014-to-2020-european-structural-and-investment-funds