Funding help for the region’s most innovative businesses
Innovative businesses across the North East could access up to £15,000 of investment with the launch of a new business support programme.
Jointly conceived by Generator and Auxin OKR in May 2018, Innovate:Grow, has investment from the North East Innovation Fund supported by the European Regional Development Fund, and managed by Northstar Ventures.
It will run two funding cohorts in May and September and is now open to SMEs operating in the North East LEP area across all sectors.
Applicants with innovative business ideas are asked to apply, along with more established entrepreneurs with proven ideas, now looking to scale their business.
CEO at Generator, Jim Mawdsley said: “We’re pleased to support our region’s innovative businesses with the launch of this new programme of investment which will provide an invaluable platform for future business success.
“What we want to see are ambitious entrepreneurs with interesting and potentially market-disruptive ideas, who are confident in their product and their ability to turn it into a scalable business.”
Businesses will have the opportunity to access up to £15,000 of investment which will provide access to expert business advice covering “Working together with Auxin OKR and Northstar, our business support programmes are proven to take companies to exciting new heights, and we’re really looking forward to seeing the variety of businesses that apply,” said Jim.
Innovate:Grow launches on the back of the success of the last North East Innovation Fund supported programme, which saw 50% of businesses from the first cohort go on to be considered for further investment by Northstar.
Alastair Grieg, Director at Northstar Ventures commented: “We are delighted to be able to support more innovators and start-ups through these kinds of programmes. The quality and passion of the entrepreneurs and businesses coming through show how much innovation there is in the region.”
Applications for the new Innovate:Grow programme, powered by Generator and Auxin OKR, are now open.
Businesses should apply at https://generator.org.uk/ services/innovate-grow/. The deadline for expressions of interest is March 22.