The Solent Growth Fund: Capital Investment Fund - CURRENTLY CLOSED

The Solent Growth Fund: Capital Investment Fund is a competitive funding programme, supported by the Solent Growth Deal, tailored to support the Solent SME base to grow quickly (high-growth) through delivering new processes / products / services, and / or developing new markets. In addition, the Fund is also available to support businesses experiencing challenging trading conditions. The Fund forms part of the Solent Local Enterprise Partnership's (LEP's) approach to providing the resources and economic environment, which make it easier for businesses and individuals to be productive.

A total amount of £3.2m funding is available up to March 2019 to support new and existing businesses to deliver new processes / products / services, develop new markets, or directly create and / or safeguard jobs in the Solent. Businesses from one of the target sectors identified in the Technical Guidance for the fund must be able to demonstrate that they will grow quickly through delivery of new processes / products / services, and / or developing new markets, or diversifying products and / or markets in response to challenging trading conditions.

Funding from £80,000 to £500,000 is being made available at the following intervention rates, subject to state aid compliance:

• Up to a maximum of 20% for established businesses seeking to grow quickly (high-growth);
• Up to a maximum of 40% for start-up businesses with high-growth potential; and
• Up to a maximum of 40% for businesses experiencing challenging trading conditions.

Details of all beneficiaries supported through the Solent Growth Fund are available here.