The Solent LEP Innovation Fund is available to companies and organisations with innovative investment proposals for new technologies, equipment, infrastructure, facilities and estates in the Solent LEP area (see eligibility below)
Amounts Available: £250,000 – £5,000,000
Investments Available: Grants, Loans, Forward Funding, Equity Funding
Funding Available: Capital funding only. The Innovation Fund cannot provide Revenue funding
Other Investment Required: 50% of the total project cost
Timescales: Submit a business case to us by 5pm on 31 October, 2017. Proposals must have a start date no later than 31 December 2018 and ideally be deliverable by 31 March 2020
Security: Where funding has been advanced other than in the form of a grant, the Solent LEP will also consider the most appropriate form of security for its investment. This may involve the use of charges and guarantees as well as negotiation with existing financiers. An assessment of credit worthiness and collateralisation will be required for all loan, equity or forward financing applicants.
To apply to the Innovation Fund your project must:
Proposals that support SME's and/or demonstrate the direct creation of new, sustainable private sector full time jobs, or the safeguarding of sustainable private sector full time jobs will be prioritised.
How To Apply
To apply, please submit a Full Business Case to firstname.lastname@example.org on or by the 31st October 2017. Full guidance and details on what to include in your Full Business Case are available in the Technical Guidance.
Please note, prior to 29th September, there was an opportunity for prospective applicants to submit a pre-application form, and receive guidance on whether their project would be eligible for consideration. Whilst this opportunity is no longer available, you may wish to contact the Solent Growth Hub for advice.
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