From today, companies in Nottinghamshire have the opportunity to bid for grants for business growth projects thanks to £5.7m of funding secured by The University of Nottingham.
The ‘N2 Business Growth Programme’ will offer grants ranging from £20k to £250k to businesses. The money will be available for businesses seeking to grow via capital investment in equipment or infrastructure, exploitation of intellectual property and new technologies.
Grants to fulfil growth potential
The funding has been awarded from the Government’s Regional Growth Fund to provide grants to help businesses in Nottingham and Nottinghamshire fulfil their growth potential and to drive the creation of new private sector jobs in the county.
The programme will be delivered by East Midlands Business Ltd (EMB), overseen by The University of Nottingham. Applications will be considered from businesses in all industries, but there will be a focus on key sectors which have been identified as being vital to the Nottingham and Nottinghamshire economies, including life sciences, digital content, clean technologies and advanced manufacturing.
The ‘N2 Business Growth Programme’ builds on the success of the two previous RGF Programmes – the Nottingham Technology Grant Fund (N’Tech), managed by Nottingham City Council, and Unlocking Investment for Growth, which was delivered by EMB on behalf of the D2N2 Local Enterprise Partnership.
Leaping to the next stage
Speaking about the launch of the programme, Dan King, Business and Local Partnerships Manager at The University of Nottingham, said: “I am very pleased that we are today able to launch the N2 Business Growth Programme. It will provide businesses across the city and county with the finance that that they need to achieve growth. I would encourage any businesses that are ready to take the leap to the next stage of their development to take a look at the programme.”
Danielle Gillett, Executive Director of EMB added: “It is often difficult for businesses to access the finance needed to support expansion plans. The N2 Business Growth Programme can provide targeted funding to catalyse growth and innovation.
Creating new jobs
“We are looking forward to working with The University of Nottingham and other partners on this initiative, and meeting innovative businesses across Nottingham and Nottinghamshire which, with the right amount of funding, have the potential to grow, creating new jobs in the process.”
Businesses are invited to register their interest in the N2 Business Growth Programme by visiting http://ingenuitygateway.com/n2bgp, or by emailing N2@embltd.co.uk
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Notes to editors: The University of Nottingham has 43,000 students and is ‘the nearest Britain has to a truly global university, with campuses in China and Malaysia modelled on a headquarters that is among the most attractive in Britain’ (Times Good University Guide 2014). It is also the most popular university in the UK among graduate employers, one of the world’s greenest universities, and winner of the Times Higher Education Award for ‘Outstanding Contribution to Sustainable Development’. It is ranked in the World’s Top 75 universities by the QS World University Rankings.
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