Solent LEP Opens £5m Innovation Fund

The Solent LEP has today opened a call for companies and organisations with innovative investment proposals in the Solent to apply for up to £5 million under a new round of its Innovation Fund.

The LEP is particularly keen to back projects which will benefit small and medium sized businesses (SMEs) in the area. Those seeking to apply for a share of £250,000 or more capital investment from the £5 million fund have until October 2017 to submit their business cases.

Businesses that submit a pre-application form will receive access to free support during the application process from the team at the Solent LEP and our Growth Hub.

 Solent LEP Chairman, Gary Jeffries, said:

"We are delighted to launch this call for proposals to support innovation in our region’s priority sectors. The projects we support under Round 3 of the Innovation Programme Fund will make a positive difference to those companies directly involved as well as other SMEs in supply chains. This is all about driving wider growth and raising competitiveness and productivity in the Solent through investment and collaboration."

Solent LEP Chief Executive, Anne-Marie Mountifield, said:

"The Solent economy has huge opportunities for high-growth firms and we are now witnessing the emergence of a new, future-facing Solent with SMEs the lifeblood of the economy. We are delighted to be able to add the support of the Solent LEP to this through our new Innovation Fund and are particularly keen to hear from SMEs seeking support to take forward new supply chain technology partnerships or those looking for capital investment to improve productivity through innovations in future products, services or manufacturing processes."

The Solent LEP has also today published a special edition of "Enterprise Solent", a new business publication for the region showcasing support available through the Solent LEP and our Growth Hub, Solent SMEs that have benefitted from support available to date and the work other Solent Businesses and Universities are doing to help boost the Solent economy.

Discussing the launch of "Enterprise Solent", LEP Chairman Gary Jeffries said:

"Our Growth Hub’s first three years have seen tremendous progress on our journey to enable sustainable economic growth and private sector investment through simpler access to business support. This special edition of Enterprise Solent celebrates these achievements. The Solent region boasts fantastic, creative, innovative and ambitious businesses and we are delighted to be able to share their success stories with you."

Organisations interested in accessing the LEPs new Innovation Fund or support through our Growth Hub can visit: www.solentlep.org.uk/funding-support/

A copy of Enterprise Solent is available to download here.