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BIC Innovation
Funding to unlock innovation
What do light bulbs, railways and hydraulics all have in common? They were all invented here in the North East!
The region has long held a reputation for being home to some of the brightest minds in industry, and we’re helping support the next generation of innovators courtesy of the North East SME Innovation Programme.
The programme offers grant funding and advice to small and medium sized businesses across the region looking to gain a competitive advantage and accelerate growth by unlocking their innovation.
Today, we need innovation more than ever. Thankfully, our experienced BICInnovation advisers have decades of experience advising businesses – just like yours – on using new ideas and technology to improve and boost growth.
What is innovation?
For us, innovation is the process of using new ideas and technology to improve a business. It doesn’t have to be a ground-breaking idea, just something new to the business to help it survive and adjust to new market conditions. The ultimate goal of innovation is to reinvigorate a business, creating new value and boosting growth and productivity.
What's on offer?
- 40% grant funding for projects from £5,000 to £50,000.
- Signposting to industry experts for independent confidential advice.
Eligibility
- SMEs in Northumberland, Tyne and Wear or Durham.
- Trading for at least 12 months.
- Operating business-to-business (B2B) i.e. selling products or services to other businesses.
- Project costs that can be covered are the purchase of external expertise and prototyping for a project that is commercially viable and will make a positive impact (i.e. create jobs).
How do I find out more?
Our expert advisers are always happy to talk through your innovative ideas. Contact us today to start your innovation programme journey.
What type of Innovation projects can secure the grant?
“Your business must be able to demonstrate that you have an innovative idea, that is new to your business or to the market. The grant can be used for the development of products, processes and services within most sectors. New technology is often the core of the project, however, existing technology may be utilised in an inventive and pioneering way.”
FAQs
We’re able to offer 40% of the value of your project, and the maximum project value is £50,000, therefore a £20,000 grant. Project values must range between £5,000 and £50,000.
An SME a is small or medium sized enterprise. As defined by the EU funders, ERDF, it is also a business with fewer than 250 employees, and a turnover of less than €50 million, or a balance sheet total of less than €43 million.
The first step is to get in touch with our Innovation Advisers (Gillian Middleton and Debbie Simpson) who will organise a ‘fact finding’ chat. Once we’re in agreement that the project fits eligibility criteria we’ll send you an application form. We’re here to help and guide you through the process.
Meet the team
Gillian Middleton
Boasting decades of experience working in business support and skills development, Gillian is a fantastic sounding board for SMEs.
Debbie Simpson
Debbie’s role as Innovation Adviser combines her vast experience of the business world with her love of working with people.
Customer Stories
Nursem
Skincare manufacturer Nursem was able to take its business global after rubbing shoulders with Debbie and Gillian.
Kinewell Energy
With support from our team, energy specialists Kinewell accessed a grant towards the cost of product development.
Cake Stories
The programme helped bakery and coffee shop Cake Stories to expand it’s manufacturing facilities.
How do I find out more?
Our expert advisers are always happy to talk through your innovative ideas. Contact us today to start your innovation programme journey.