A new fund designed to help local firms prosper has been launched by East Devon District Council (EDDC).
This recovery focussed fund is designed to support innovative projects that:
- support business diversification and the development of new and innovative products
- enable carbon reductions and biodiversity enhancements
- enable and safeguard high value jobs
- offer inclusive opportunities to disadvantaged individuals
The Innovation and Resilience Fund has £2.08m available, made up of £1.08m government funding and £1m match-funded by EDDC from its business rates retention scheme pilot.
Applicants can apply for:
- Up to £50,000 per individual business or organisation
- Up to £150,000 per collaborative bid (multiple businesses and organisations)
Requests above these amounts will be considered where applicants can demonstrate that their proposed project will lead to exceptional positive benefits for the local economy.
The minimum funding request is £2,500.
Examples of how the funding can be used include:
- Equipment that will allow the business to diversify or create a new innovative product
- Specialist training to allow the business to expand into new markets
- Equipment that will enable the business to expand and create new higher-paid jobs
- Technologies that will allow the business to become carbon neutral or negative
Further information can be found here: