shutterstock_95133181The University of West of England announced this week the launch of the second part of their multi-million pound Investment 4 Growth (I4G) fund. The scheme offers grants of up to £150k for businesses of any size and from any sector in the south west and is specifically to support research, innovation and development projects.

Professor Martin Boddy, who leads on research and business engagement at the University, said,  “We are delighted to be launching Round Two of our Innovation 4 Growth (I4G) scheme. This covers up to a third of the cost of innovation and development projects, helping businesses overcome technical challenges and develop new products and services. Businesses from any sector can apply, including small enterprises and large, established employers.”

The launch of the second part of I4G fund comes as the application deadline for the West of England LEP “Going For Growth” fund passes (30th april), providing innovative businesses in the region with more funding opportunities.

In conjunction with the I4G announcement, UWE are also offering a second funding system (“Innovation vouchers”) specifically for small and medium-sized businesses (SMEs). Professor Moddy explained that SMEs would be able to use these vouchers “to access academic expertise, student support and university facilities, to develop ideas or improve performance. It provides 40% ‘cashback’ on projects with a total value of up to £10,000.”

The Innovation Voucher is financed by the European Regional Development Fund and the I4G schemes is financed by the UK government’s Regional Development Fund. Both funds close for applications at midday on Friday, 23rd May 2014.

David Maher Roberts