More than £800,000 in Collaborative Projects Fund grants is now available to North East manufacturing businesses following the launch of a £5.1million project by the University of Sunderland.
The Sustainable Advanced Manufacturing (SAM) project is a multi-million pound scheme to support small and medium-sized manufacturing enterprises (SMEs) across the North East LEP region, aiming to create jobs and unlock growth.
The pioneering initiative will enable businesses to become more productive and sustainable by supporting projects that develop their products, processes and technology.
Claire Defty, Project Manager indicated: “The North East is a region of entrepreneurs and innovators and these grants will support them to deliver business growth from their ideas and concepts.
“The grant element enables companies to access support for equipment and helps address other barriers to developing and implementing a new product or process.”
Grant applications are invited from North East manufacturing SMEs looking for investment to support:
- New technology development and/or use by the firm
- New product validation (tests/consultancy/prototypes)
- Process improvement
- Research and development
Applications from SME consortiums are particularly encouraged. It is anticipated that most awards will be between £5,000 and £35,000 per project.
Anyone interested in a grant can find out more information on the SAM website – www.samprojectuos.co.uk
The University of Sunderland is receiving almost £2.6million from the European Regional Development Fund towards the project.
European Regional Development Fund
The project is receiving up to £2,596,753 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund
Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.’