New research innovation fund to support South London businesses with £30k funding

A new research innovation fund to help businesses and third sector organisations in South London recover and thrive post Covid launches this week, offering up to £30k worth of investment funding into transformative collaborative research proposals.

The Business, Innovation, and Growth (BIG) South London Hot House Research Innovation Funding is designed to nurture business growth, and boost competitiveness and productivity through a collaborative project with an academic partner.

Hot-House will enable businesses to bring in additional academic expertise and resources to deliver a project which is strategically important to its growth.

This could be anything from developing and launching a new product, adopting a new innovative/sustainable business model, through to a specific research and development project, which will lead to new business and growth.

Innovation was cited as a key component of the UK’s future economic growth in the Government’s 2021 Innovation Strategy, showing there was a direct link between innovation and increased productivity, creating more and better paid jobs.

Open to applications from businesses and organisations across all commercial and industrial sectors, including the third sector, it offers organisations the opportunity to access up to £30k worth of research funding to enable them tap into a broad range of expertise to accelerate business development.

Paul Kirkbright, programme director, BIG South London, said: “We are delighted to launch this new opportunity for local businesses to aid recovery and growth.

“The Hot-House funding will enable an intensive partnership with an academic to make use of their expertise to deliver a specific, strategic project aimed at increasing resilience, boosting productivity and competitiveness. Accessing the world-class knowledge and expertise from our local Universities and Colleges to improve local businesses is our top priority.”

Richard Keough, pro vice-chancellor (Research and External Engagement), University of Roehampton added: “The University of Roehampton’s distinctive research culture is driven by a commitment to advancing a socially just, sustainable, and creative society.

“Since the pandemic, we’ve been supporting businesses to innovate and thrive. BIG South London’s Hot House Programme provides an exciting opportunity for businesses and universities to work together on strategic projects and innovation that will accelerate growth across South London.”