£800,000 fund helps bring ‘Great Ideas’ to life

Seventeen Yorkshire businesses have secured a share of £800,000 to help turn innovative ideas into reality following a Dragons’ Den-style funding pitch.

The businesses received grants of up to £60,000 each through Great Ideas, a £2.5 million business innovation programme.

Projects securing support range from AI-enabled production improvements and recruitment technology to micro-farming innovation and product development aimed at overseas expansion.

Businesses pitched their ideas at York’s West Offices for the chance to secure tailored grants to help put their plans into action.

Among those successful was York-based SealStop, founded by Belle Richardson.

She said: “We secured the £60,000 that we pitched for, which is incredible, and now means we can bring out our product. 

“It’s really sped up getting that new product to market, it’s so exciting, it puts me and the business exactly where we want to be.

“My adviser has been absolutely brilliant, life has been hectic and she was fantastic at keeping me organised, getting all the paperwork done and getting me into that room today for the pitch.

“I would definitely recommend other businesses get involved in projects like this, getting in front of people and the grant process because it’s so rewarding.”

Great Ideas, developed in partnership with business support and funding specialist UMi, also provides personalised innovation support to eligible businesses.

The programme forms part of the Mayor of York and North Yorkshire’s wider Business Innovation Fund, which aims to help businesses develop new ideas, access finance and expand into new markets.

The fund comprises five programmes covering sector activity, spin-outs and start-ups, exporting, access to funding and innovation.

David Skaith, the mayor of York and North Yorkshire, added: “With transformational grants and expert advice, we're giving our businesses the tools they need to take their Great Ideas to the next level. 

“Whether it’s about using AI to unlock productivity in factories or using sustainable thinking to help our farmers save water and money, we’re backing our businesses. 

“The Great Ideas fund is here to match your ambition and shows that when we say York and North Yorkshire is open for business, we mean it.” 

Simon Goon, chief technology and investment officer of County Durham-headquartered UMi, added: “It was fantastic to join the mayor’s team and other panellists for the Great Ideas pitch and to meet the inspiring entrepreneurs involved in the initiative. 

“Support like this offers a great opportunity to help small and medium sized businesses overcome financial barriers and receive the specialist support required to innovate and grow.

“We are delighted with the results it has generated so far and we are confident that going forward, it will help more exciting businesses to innovate and become a blueprint for others across the length and breadth of the UK to realise their potential.”

For more information and to access the programme’s prospectus, click here.

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