Partner Article

R&D boost for North East

£8m has been pledged to help North East entrepreneurs over the next three years. The Research and Development Grant Team – based at One NorthEast – has received £5m from the European Regional Development Fund and One NorthEast to add to an original £3m from DTI.

The grant specifically targets small and medium-sized companies to encourage them to undertake research they would otherwise not have pursued due to financial constraints. One NorthEast is looking to increase the numbers of small and medium-sized businesses carrying out product research and development. The ultimate aim is to raise the region’s productivity rate to 90% of the national average over the next decade.

Will Adams, head of the Research and Development Grant team, said: “Essentially the grant helps firms develop new innovative products and processes that have a technical advantage over competitors. “The North East has a long history in R and D and led the world in many industrial advances – but from that proud history the North East now finds itself with one of the lowest participation rates in commercial R and D in England. “We want to reverse this trend and rekindle the spirit of innovation and endeavour which made the North East foremost in industrial development, building up a knowledge base and foundation for growth from the region’s SME base.“For more information about the grants, contact the Research and Development Team on GRD@onenortheast.co.uk or call 0191 229 6882.

This was posted in Bdaily's Members' News section by Ruth Mitchell .