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GM Business Growth Hub Innovation Funding

The GM Business Growth Hub Innovation Service is a business finance option that enables businesses to access an array of research and development grant funding across various schemes.

  

What is BGH innovation funding?

 

The BGH innovation funding scheme helps business owners to access expertise, research and specialist facilities to speed up the development of innovative products and services.

Innovation Vouchers up to £5k are available for established SMEs in Greater Manchester. This business funding for Manchester businesses provides essential business start-up support and an opportunity to commercialise your innovation and accelerate your route to market.

Additional innovation grants ranging from £5k up to £25k are available to support R&D and capital expenditure, they are for businesses where their innovation has a particular focus on enabling and supporting emerging technologies.

Eligibility and exclusions

 

The public sector innovation fund is for Greater Manchester-based SME businesses, which can access up to £5k in grant funding to develop innovative products and services.

The Innovation Voucher scheme is intended for SMEs demonstrating innovative project ideas with commercial and high-growth potential. Every £1 provided needs to be matched by £1 from your business. All sectors are considered, as the scheme is designed to support a wide range of innovation activities.

The additional innovation grants that go up to £25k are for businesses where their innovation has a particular focus on enabling and supporting emerging technologies in the following areas:

  • Sustainable advanced materials
  • Diagnostics and genomics
  • Artificial intelligence, data and advanced computing

Benefits and scenarios

 

The kind of activities the BGH innovation funding scheme can be used to fund include:

  • Access to facilities and equipment
  • Product design 
  • Research and development 
  • Knowledge transfer 
  • Consultancy
  • Testing and validation 

Risks

 

Successful applicants must match the value of the Innovation Voucher with a £1 contribution for every £1 received. For example, businesses applying for the maximum voucher of £5,000 will be required to contribute £5,000 (and the full VAT cost). The minimum contribution from businesses is £3,000.

Think the Innovation Voucher scheme could be a good fit for you?

 

If you’re considering the BGH innovation funding scheme for business investment, get in touch with us today. One of our specialists will be able to advise you on how to get started with tailored advice for your business.

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