Five-figure investment for North East SMEs tackling energy issues

Businesses in the North East may be eligible for five-figure funding to develop solutions to global energy problems.

The Energy Innovation Challenge, led by the North East Local Enterprise Partnership (LEP), will run over the next 12 months for businesses across the region that want to tackle energy issues through innovation.

Businesses will have an opportunity to secure funding towards the development and commercialisation of their business, with challenge partner Northstar Ventures offering £20k of investment to 10 businesses.

Participant SMEs with well-developed business cases will also be invited to submit matched grant applications for Local Growth Funding (LGF) of up to a further £20k.

David Lynch, energy innovation partnership manager at the North East LEP, explained: “Through the Energy Innovation Challenge we hope to support small and medium sized businesses in our region to take the lead in developing new ways of tackling some of the issues that are being faced around the world, such as the challenge of providing energy to homes and businesses while also reducing carbon emissions.”

“This is an exciting opportunity for the region which demonstrates the added value of bringing partners together through the North East Energy Catalyst.

“The North East is built upon a legacy of innovation in power, from steam to electricity and now sustainable energy – we are a force to be reckoned with and now is the time to propel the North East onto the global energy stage.”

For more information on how to apply, click here.