Cash grants available for manufacturing firms as Sunderland University launches Â£5million project
Cash grants will be made available to North East manufacturing firms following the launch of a Â£5million project by Sunderland University.
More than £800,000 in Collaborative Projects Fund grants will be opened up for firms through the Sustainable Advanced Manufacturing (SAM) project.
The multi-million pound scheme aims to support small and medium-sized manufacturing enterprises (SMEs) across the North East LEP region, aiming to create jobs and unlock growth.
It is hoped that the initiative will enable businesses to become more productive and sustainable by supporting projects that develop their products, processes and technology.
Claire Defty, project manager, said: “The North East is a region of entrepreneurs and innovators and these grants will support them to deliver business growth from their ideas and concepts.
“The grant element enables companies to access support for equipment and helps address other barriers to developing and implementing a new product or process.”
Grant applications are invited from North East manufacturing SMEs looking for investment to support:
New technology development and/or use by the firm
New product validation (tests/consultancy/prototypes)
Research and development
Applications from SME consortiums are particularly encouraged.
It is anticipated that most awards will be between £5,000 and £35,000 per project.
Anyone interested in a grant can find out more information on the SAM website - www.samprojectuos.co.uk
The university is receiving almost £2.6million from the European Regional Development Fund towards the project.