University of Sunderland launches £5.1m project in bid to help local SMEs
More than £800k in Collaborative Projects Fund grants is now available to local manufacturing businesses following the launch of a £5.1m project by the University of Sunderland.
The Sustainable Advanced Manufacturing (SAM) project is a multi-million pound scheme to support SMEs across the North East LEP region, aiming to create jobs and garner growth.
The initiative is set to 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.”
Applications from SME consortiums are particularly encouraged. It is anticipated that most awards will be between £5,000 and £35k per project.
The UK is set to leave the EU on 31 October 2019. Are you preparing for Brexit? Complete the North East Growth Hub and Tees Valley Business Compass’ 3-minute survey →