Where to find more business grant help in North East

Could your business use a £10,000 grant? Apply now

You may not realise that your business is eligible but if you are considering bringing in new equipment or processes then now is the time to apply for the North of Tyne Innovation Recovery Grant.

Funded though the North of Tyne Recovery Innovation Fund, the grant was launched in June last year and has so far invested more than £900k in regional businesses, following the impact of Covid 19. As many as 126 grants have been awarded.

The Innovation Recovery Grant is designed to help businesses grow by adopting innovative practices or introducing innovative products or services.

You may not realise your business is eligible

Launched by the North of Tyne Combined Authority to enable a green and sustainable recovery, projects with the potential to safeguard and create quality jobs, build a more inclusive economy and contribute towards the net zero agenda have all been given funding.

The project is being delivered by experienced grant fund managers NBSL and innovation and business support experts Innovation SuperNetwork.

Funding offer

The Innovation Recovery Grant covers 50% of eligible business spend towards innovation projects totalling between £10,000 and £20,000 (excluding VAT) – with grants of between £5,000 and £10,000 available.

£10k Innovation Recovery Grants for new-to-business equipment/processes or support for new products/services

The grant is open to small and medium-sized enterprises (SMEs) across Newcastle, Northumberland or North Tyneside. Applications from start-ups and scale-ups are welcome.

Projects need to be innovative. This means they should change something for the better within a business – it could be a new product, an improved service or a new way of working, but it needs to be something the business has never done before.

For a project to be eligible, it must:

Be able to be completed, paid for and the grant claimed before the end of your five-month funding contract.Focus on innovation by developing a product or service that is either new to the business or the market, or introduce a new process, practice or technology.Respond to a clearly identified market need, challenge or problem.Identify, explore or deliver a clear route to market with economic impact, or demonstrate a clear impact through innovation.Bring about an impact before the end of March 2023.

Follow our success

North Tyneside-based Marine Safety Supplies used grant funding to develop a range of systems and processes, to keep its marine safety equipment manufacturing globally competitive and compliant.

Director Alan Ellis said: “The funding has enabled our business to turn an opportunity into reality and unlock a whole new world of possibilities. We would recommend that any business that has an opportunity to change the way it works for the better should consider North of Tyne Innovation Recovery Grant funding to support that journey.”

Northumberland Bari Tea Brewery spotted a growth opportunity by investing in new manufacturing equipment, with the added bonus of streamlining its processes.

Director and Maître t’ Caroline Stewart said: “The North of Tyne Innovation Recovery Grant website provided clear guidance on availability of the grant and the application process. We received clear responses to any enquiries we had and found it to be a quick and simple grant claim and payment process.”

Cllr Carl Johnson, Cabinet Member for Investment and Resources at North of Tyne Combined Authority, said:

“I am pleased that the launch of the Innovation Recovery Grant has been a success and that we have seen a positive take up of the funding so far.

“It really shows that businesses across the region want to take innovative approaches, building sustainable business models and be resilient as they move forward. There have been some incredibly interesting projects who have been funded so far and I am looking forward to helping more of our forward-thinking businesses take the next step and gain a competitive edge.

“The Innovation Recovery Grant does just that, it helps businesses be creative and transform themselves without a direct financial risk. By supporting innovation in the region’s businesses, the grant is helping drive forward economic growth in the area.

“The programme is just one part of a wider package of support available to businesses in Northumberland, North Tyneside and Newcastle alongside the Green New Deal and Good Work Pledge, which will lead to the creation of quality new sustainable and green jobs.”

Get in touch

To apply or find out more about how to get 50% of grant funding towards innovative projects totalling £10,000 – £20,000 click here.