Funding Archives - Page 5 of 8 - North East Local Enterprise Partnership

As Deputy Director of Innovation SuperNetwork, Estelle Blanks works with North East businesses to help them get the funding they need by connecting them with investors through events such as FinanceCamp.

Estelle discusses how businesses in the early stages of an innovation-based project can benefit from up to £200,000 worth of project development funding that’s available in the Innovation Project Development Fund.

Read on to find out if this is for you and what the next steps are.

Why is the Innovation Project Development Fund important?

The North East LEP, as part of the North East Strategic Economic Plan, is committed to creating more and better jobs in the region and help give a long-term productivity boost to the economy. Ensuring there is a strong pipeline of projects that encourage innovation-led growth is essential to deliver this vision. This is what the Innovation Project Development Fund is all about.

The Innovation SuperNetwork is a key pillar of the North East LEP’s innovation strategy, bringing together over 50 stakeholders and reaching out to over 5,000 SMEs in the North East region. We help promote the innovation profile and brand equity of the region and we bring together the regional innovation community across academic networks, catapults, industry and innovation hubs. As such we are keen to see more innovation projects develop and benefit from the new Innovation Project Development Fund.

What types of companies are eligible for the fund?

The Innovation Project Development Fund exists to help companies and projects that can make a real impact on the North East economy raise the capital they need to go and make their plans a reality. Prospective applicants can be from the public, private or voluntary sectors.

This is project development funding for strategic innovation projects (larger than £5m in total) which will enable the project to progress to achieve full funding routes.

If your company creates more jobs in the region, encourages collaboration, or contributes to the productivity and growth of the North East’s economy through innovation, this may be for you.

What types of projects are eligible for the fund?

The North East LEP is inviting bids from early stage innovation projects to come forward for development stage funding. Projects that are anticipated to be over £5m in scale by the end of the project are encouraged to come forward. You should apply for this funding if your project supports the strategic aspirations of the North East LEP’s Strategic Economic Plan and the Industrial Strategy.

The projects must be capital, represent a strategic step change and result in key outputs such as jobs growth, business start-up and growth and the development of new products, processes or services.

Projects will need to demonstrate engagement and partnership between businesses and research institutions.

The Innovation SuperNetwork may be able to introduce you to potential partners and a network of other organisations and businesses who may be seeking collaboration or a partnership or even help with a particular technical aspect of your project.

Next steps for Innovation Project Development Fund applicants

Interested in applying for this funding? Here are the next steps for applying to the Innovation Project Development Fund.

Get in touch

The North East LEP welcomes informal discussions and queries from interested parties, so if you have any questions at all or need help assessing the eligibility of your project, just get in touch with James Davies ([email protected] / 0191 561 5430).

Have a look online

There’s plenty of guidance around the funding and the application process on the North East LEP website, including a scoring matrix that will help you easily identify whether you qualify for the funding or not.

I would also recommend reading the Strategic Economic Plan and the Industrial Strategy, as they’ll reveal what the North East LEP is looking for from applications.

Get collaborating

The Innovation SuperNetwork can use its network to help businesses make connections and can provide support which will allow you to access new markets and opportunities which can help you get access to funding such as this.

How to apply

Make sure you read through all the guidance documents and check you are eligible for the Innovation Project Development funding.

If you’re interested in submitting an application, please contact either James Davies (details above) or Ben McLaughlin ([email protected] 0191 561 5430) and ask for the relevant application form and guidance.

The deadline for submissions is midnight on the 30 March 2018.

For more information on the Innovation Project Development Fund see here: https://www.nelep.co.uk/news/lep-funding-available-early-stage-innovation-projects/

Innovative projects could be given help to achieve success with business development funding.

The North East Local Enterprise Partnership (LEP) is inviting bids for up to £200,000 worth of project development funding for strategic innovation projects.

The grants aim to support the preparation of a business plan, feasibility studies and funding applications for large-scale, strategic capital projects that improve the innovation infrastructure of the North East.

The North East LEP is looking for projects that are in the initial stages and need support with the preparation costs to produce a HM Treasury-compliant five-point business case for the Industrial Strategy Fund. The LEP is specifically looking for applications from projects that can demonstrate clear links to the goals set out in its Strategic Economic Plan (SEP), and which are anticipated to be of significant scale with at least a £5m capital build cost.

North East LEP programme manager, James Davies, said: “Our Strategic Economic Plan includes a focus on achieving innovation-led growth, as this is essential to our region’s long-term prosperity.

“This funding is part of our approach to supporting the development of a strong pipeline of capital projects and infrastructure to support the growth of our innovation ecosystem by providing capital project development grants within the North East LEP area.

“This is a fantastic opportunity for businesses. We are inviting applications for up to £200,000 worth of project development funding for strategic innovation projects. This will hopefully help the projects to progress to achieve full funding routes.”

Projects will be required to be seeking external funding from a public, private or other source with a project value of over £5m and to be deliverable within the next five years.

The closing date for applicants is 30 March 2018.

For further information can be found here.

A £120m fund to support the growth of hundreds of North East businesses hopes to go live early next year after an important milestone was reached today.

The North East Fund – also known as “JEREMIE” – will offer a range of equity investments and loans to firms to drive local growth and job creation in the North East LEP area.

The final piece of the funding jigsaw was agreed in principle this week by the European Investment Bank’s (EIB) top level Management Committee, after several months of intensive negotiations, following the triggering of Article 50 in March. The £60m loan represents a significant vote of confidence in the North East.

The EIB contribution will form part of a £145m funding package supported by the Department for Communities and Local Government (which has responsibility for the European Regional Development Fund in England) and legacy returns from earlier successful funds operating in the region. The seven North East Local Authorities, working through the NECA Leadership Board, have also been fully engaged in bringing the programme to fruition.

The North East Local Enterprise Partnership (LEP) led the project team negotiating for the Region. Although the Fund will invest exclusively in the North East LEP area, it will also sit alongside the Northern Powerhouse Investment Fund (NPIF), operating in other LEP areas, to drive business growth right across the Northern Powerhouse.

The North East Fund will provide financial support for over 600 businesses, creating around 3,500 jobs over the life of the fund and delivering a legacy fund of up to £80m for further investment in the region over the next decade.

Helen Golightly, executive director for the North East LEP, said: “Our project team has been working continuously with HM Treasury and the EIB behind the scenes to make this fund a reality. Both have been committed to the new Fund from day one and we are grateful to them for their support. This hugely positive decision, though still subject to contract, is a real coup for the north east and, critically, enables us to retain independence and local control over how these funds are used.

Andrew Mitchell, chief executive of the North East Fund Limited, which will deliver the new programme, added: “This announcement follows months of painstaking work and we are delighted that the European Investment Bank will remain a major long-term investor in the North East. We will now focus on getting money to businesses as soon as we possibly can”

Ends.

Notes to Editors

The North East Local Enterprise Partnership (North East LEP)covers County Durham, Gateshead, Newcastle, North Tyneside, Northumberland, South Tyneside and Sunderland.
Our role is to drive economic growth in North East England by supporting businesses and creating more and better jobs for everyone.

Over the next decade, we aim to help the North East create an extra 100,000 jobs. An ambitious target, but one we believe is achievable working with our partners in the public and private sectors.

Our Strategic Economic Plan (SEP) for the North East outlines how we will create more and better jobs including the identification of our areas of strength, referred to as our smart specialisation areas; passenger vehicle manufacturing; subsea and offshore; life sciences and healthcare; and creative, digital, software and technology based services, and our plan to bring investment and funding to the area.

Work areas

The North East LEP works across a number of themes and areas. These are:

Funding: The North East LEP competes nationally to bring funding into the region. We are the holder of a multi-million pound pot of money, sourced from various funding streams, which is used to deliver the Strategic Economic Plan priorities.
Business Growth: Our Business Growth Programme provides the framework for investment into small and medium-sized companies, opening up access to the finance and support they need to grow and thrive. The LEP is also delivering the ground breaking northeastgrowthhub.co.uk. It simply and efficiently brings together all the available business support information into one digital platform to ensure businesses have all they need to create competitive advantage.
Skills: The LEP has created an Employment and Skills Board to give strategic leadership and direction on the skills needed to provide employers with the qualified employees they need. A significant part of our work is to create greater connections between businesses and schools.
Enterprise Zones: The North East LEP has helped secure a second Enterprise Zone (EZ) from Government for the region. It is spread across ten sites and companies located there will benefit from business rate discounts, tax savings or enhanced capital allowances. This was a result of the huge success of the first Enterprise Zone and the significant improvements it brought to the region.
Innovation: We are working with organisations across the North East LEP area to secure our place as one of the leading ‘innovation hotspots’ in Europe. We aim to achieve this by building a world class ‘open innovation eco system’ together with partners around the region. Important initiatives include the Super Network (Venture Fest), the Innovation Observatory and the Incubator Support programme.

European Regional Development Fund (ERDF)

The project is receiving up to £58,500,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.

Innovation, Skills, Funding and Growth Opportunities for North East businesses.

The North East Local Enterprise Partnership (LEP) is calling on the North East business community to come together in January to hear about opportunities to be involved with plans to create 100,000 more and better jobs for the region.

Members of the LEP’s senior management team will outline how businesses can get involved in the various programmes run by the LEP, covering areas such as funding, innovations, skills and business growth.

Helen Golightly, Executive Director at the North East LEP, explained: “This event is open to all businesses and intermediary organisations who want to find out more about our plans to grow the economy here in the North East.

“It’s a chance to ask questions and find out how you, your organisation and your clients could be a part of some of the exciting opportunities for businesses here in the region.”

The North East LEP manages over £500 million of public funding and plays an influencing role in the allocation of regional European funding and the event will include a briefing from the North East LEP Executive Director, Helen Golightly, on the funding landscape.

Innovation, and opportunities for businesses to get involved with innovation events and initiatives across the North East will also be discussed, including an outline of the innovation priorities which are set out in the region’s Strategic Economic Plan – the document which lays out a clear roadmap for creating more and better jobs.

There will also be opportunities for business leaders to find out how they can support the LEP’s work in the skills arena, including building on this year’s national pilot of careers benchmarks in North East schools, and the successful Enterprise Advisers programme, which pairs business leaders with schools’ senior management teams.
Attendees will also find out how they can make use of the North East Growth Hub, a free resource which brings together initiatives for growing businesses and scaleups.
Helen added: “We have one of the fastest growing regional economies outside London and as we enter 2018 we are working hard to continue this growth.

“We’re calling on the business community here in the North East to continue to support the delivery of the region’s Strategic Economic Plan and we also want to make sure that everyone who could benefit from our programmes is doing so.”

North East LEP Chair Andrew Hodgson will lead the event, which takes place on Friday 19 January, from 8.30am to 10.30am, at the Centre for Life in Newcastle.

The event is free to attend and is aimed at those in financial, professional and business services in the North East LEP area (Sunderland, Durham, Gateshead, Newcastle, North Tyneside, South Tyneside, Northumberland).

With more than £10 million to invest in businesses in the North East LEP area, Dinah Jackson, North East LEP Business Growth Programme Manager, outlines how the Rural Development Programme for England (RDPE) Growth Programme will unlock business investment across the region to create jobs and growth.

We’re thrilled to be able to announce that the deadline for submission of Expressions of Interest to the RDPE Growth Programme has been extended to 31 May 2018. This gives an additional four months for businesses to apply for three grants which are available: rural business development, rural tourism and food processing. The Growth Programme provides capital funding to support projects that invest in building businesses, creating new jobs and growing the economy in rural areas.

We’re extremely pleased with the decision to extend the deadline for the benefit of the rural economy. We hope that the grant will incentivise businesses to bring forward their investment plans despite the uncertainty of current times. Individual projects could be eligible for up to 40% grant funding in most cases, and in some cases a higher grant threshold is available (for some specific projects to build our rural tourism infrastructure).

With more than £10 million to invest in businesses in the North East LEP area, businesses are invited to submit expressions of interest as soon as possible to give the maximum amount of time available to deliver individual projects.

So what types of projects can the Growth Programme fund?

Here are some examples of the kinds of projects that could be eligible for a grant:

Rural business development grants – New equipment or machinery that creates productivity and efficiency gains, new premises or facilities that diversify farming activities

Food processing grants – Expansion of a meat cutting and processing plant to meet new international markets, a new milk processing facility or expansion to an existing soft fruit processing facility to enable processing of lower quality and lower value fruit to supply growing markets for end products

Rural tourism – New footpaths, bridleways or cycle paths, extending a local museum or new high quality visitor accommodation

We now need good strong applications from rural businesses, rural tourism businesses and food processing businesses to ensure that we maximise the economic benefit returned to the North East from the programme.

Here are some top tips that will help you progress your project to create growth and jobs:

How do you apply for a Growth Programme grant?

The first step is to identify whether you are eligible. It may sound overly simple, but if you don’t meet basic eligibility requirements, you cannot apply.

Are you an eligible business, located in an eligible area, intending to carry out eligible activities?

With the exception of applicants for food processing grants, your business must be located in the rural North East. You can use the postcode checker tool

Whilst all business development and tourism projects must be in the Rural Growth Network area, your food processing project might be eligible in the urban parts of our region, depending on the exact nature of your project.

The next stage is to follow carefully the advice provided by RPA.

Clearly written handbooks are available for each of the three calls provided by the Rural Payments Agency (RPA), the grant administrator. The handbooks set out information on what activity is eligible (and what activities aren’t) and how to apply. They also give a summary of our local priorities for rural business growth. Your project will need to deliver against national and local priorities.

Each project will be considered on its own merit and the application process is competitive. This means grants are not awarded automatically to an applicant. The RPA will assess all expressions of interest to see which best meet the criteria. This is through a rigorous two-part application process (starting with submitting an ‘expression of interest’) to tell RPA about the work you’re doing and how the grant could help you with it.

If RPA assesses that your expression of interest is suitable, they will invite you to submit a full application.

Top tips for applicants

Before you start an application, here are some important reminders…

Jobs + growth + rural

Every successful application starts with a good idea and a clear plan for how to make that idea a reality. The whole aim of the RDPE Growth Programme is to create jobs and growth in the rural economy. Your application will need to show how your project will help do this.

Sell your idea

Explain clearly what your project does and how it will benefit the economy.
Show what the funding will mean to the success of your project. If you can show that your project is good value for money, and that you’re planning to use the grant money to improve your project, you’re more likely to produce a successful application.

Do the market research

Explain how there is real demand for what you want to do.

Be prepared

You will need to keep detailed records about your project, because you’ll have to provide proof (including detailed quotes) of how much the various elements of your project will cost.

An information event discussing the available funding, the types of projects funded and the application process will be held on Monday, 11 December at Wansbeck Workspace, Ashington. To book a place at this free event, click here.

For further information
For further help on growing your idea, see further information at www.northeastgrowthhub.co.uk/finance-and-funding/department-for-environment-food-and-rural-affairs/rdpe-growth-programme/ call the Defra Helpline on 03000 200 301, or email the Growth Programme at [email protected].

ESF LOGO

In our latest blog post, Heather Heward, North East LEP Programme Manager, discusses how a recent update to the European Social Fund (ESF) rules will unlock investment across the region.

We are delighted to announce that an ESF applicant no longer has to have all employer match funding in place before the project commences.

The North East Local Enterprise Partnership (LEP) has worked closely with the ESF Managing Authority to secure this change.

We’re extremely pleased with the decision as this will unlock significant private investment to upskill those in employment. These changes not only benefit the North East LEP area, but also will have the potential to unlock employer match across England.

Employer contributions are defined as the financial contribution made by the employer towards support put in place by the ESF project, for example financial contributions towards the undertaking of training for the workforce or employment costs associated with undertaking work placements and internships.

Each project will still be considered and appraised on its own merits. However, a project should be able to use employer contributions as match funding and remain compliant with ESF rules if grant applicants and employers maintain a detailed adequate audit trail and meet all ESF regulations.

Essentially, the project could now be approved and commence as long as there is a demonstrated level of demand for the service in terms of expected employer contributions.

The applicant will of course have to show really robust compliance at every stage but we think it really has the potential to transform the way we train and up-skill our workforces.

Here at the LEP, we are thrilled with the development as we feel it’s going give employers the boost they need by providing financial support towards the business-specific training they need to upskill their workforces; it will also provide the opportunity for employees to progress within the workplace.

We now need good, strong applications using the employer model to respond to the current ESF open calls to maximise these opportunities for local businesses. Details on the calls can be found on the LEP website here
We completely welcomes the news and look forward to seeing the economic benefits for the region.

If you have any questions, please get in touch.

A new footpath which will improve access to Durham train station for pedestrians and cyclists has been officially opened.

Durham County Council has created a new shared use pedestrian and cycle path which runs alongside the A691 Framwellgate Peth, from County Hall to the station. New pedestrian access to the station has also been created via steps just North of the railway bridge on Framwellgate Peth.

New street lights have also been introduced in the area in addition to the planting of new trees and woodland wildflowers. The existing pedestrian and cycle route along the station side of the A691 Framwellgate Peth has also been resurfaced.

The work has been jointly funded by the council and the North East Local Enterprise Partnership (LEP). Support has also come from walking and cycling charity Sustrans, Virgin Trains East Coast and the North East Combined Authority.

Council chairman Cllr Bill Kellett cut a ribbon to officially open the new path at a ceremony attended by representatives from the various groups.
Cllr Carl Marshall, the council’s Cabinet member for economic regeneration, said: “Durham train station is of vital importance as it opens up our city and county to people who want to come here to work, shop or enjoy a day at some of our magnificent visitor attractions.

“This new path improves links between the station and ongoing and future developments in Durham, which can only help us to attract further investment and employers.

“By encouraging people to cycle and walk, it also has the potential to reduce the amount of traffic on the city’s roads which will bring about reduced congestion, better air quality and improvements in people’s health.”

David Land, North East LEP board member, said: “A main objective of the North East LEP’s Local Sustainable Transport Fund Capital Programme is to improve cycling and walking links to and from key rail stations in the area.

“This will enable them to become sustainable travel hubs, enhancing access to employment, training and educational opportunities.

“We are delighted to see the eastern side of this cycle route scheme now complete, with the western side expected to be completed by the end of August 2017.

“When finished this scheme will greatly improve accessibility in central Durham.”

Work will now start on the widening of the footpath leading up to the station, on the Wharton Park side of Framwellgate Peth.

Planning permission has been granted for three new large industrial units in Hebburn. The units, which will be built on the Monkton Business Park, are expected to create over 100 jobs.

Washington-based Hellens Group, which is leading the project to create 55,000 square feet (5,110 square metres) of new industrial space, has received £1.27m from the North East Local Enterprise Partnership’s (LEP’s) Local Growth Fund that is helping a range of industrial and commercial infrastructure projects across the North East LEP area along with loan funding of £1.7M from the North East Investment Fund (NEIF), an evergreen loan fund also administered by the North East LEP

Gavin Cordwell-Smith, chief executive at Hellens Group, said: “The development is fantastic news for South Tyneside and the wider region. These new units will offer growing businesses modern manufacturing space with 6-8m eaves height, and good power availability. We will work with prospective tenants to develop the internal layout of the units and offer cost-competitive rates on long term leases. We are tremendously appreciative of the support for the project that we’ve had from both South Tyneside Council and the North East LEP.”

Work will commence on site in September with a target completion date of September 2018. There will be one large unit of 30,000 square feet and two smaller units of 15,000 and 10,000 square feet although there is the option for prospective businesses to combine the two smaller units into a 35,000 square foot facility. The units will come with their own service yards and parking facilities.

Monkton Business Park has rapidly developed into a key business location in South Tyneside. The 16ha site provides a range of office and industrial facilities on the edge of town, on a landscaped setting which forms part of the Great North Forest. The southern part of the site provides a major new office campus, with more than 18,000m2 of speculatively built new office space, while a range of manufacturing accommodation is provided to the north.

The site is located close to the A184 – between the A19 and A1- in close proximity to Newcastle and Sunderland. The location gives excellent access to the regional road network and is well placed to serve manufacturers with supply chains north and south of the River Tyne. Importantly, it is less than 15 minutes away from the planned International Advanced Manufacturing Park (IAMP) and Nissan’s Sunderland car plant.

The site is already home to a number of companies including Siemens, Hitachi Construction Machinery Ltd, Variable Message Signs (VMS) Ltd, Ford Component Manufacturing, Clugston Construction and Kier North along with many others.

Leader of South Tyneside Council, Councillor Iain Malcolm, said: “This is excellent news for South Tyneside, with regional funds from the LEP being used in a targeted way to grow the borough’s business prospects. I’m delighted that funding from LEP’s North East Investment Fund and the Local Growth Fund will enable construction of these much-needed units to get underway this year.”

The £270.4m Local Growth Fund, secured as part of the North East Growth Deal, supports the North East LEP’s delivery of the Strategic Economic Plan, which aims to create 100,000 more and better jobs by 2024. The North East Investment Fund was established as an evergreen loan funding to support capital projects that will lead to job creation.

David Land, Chair of the North East LEP’s Investment Panel, said: “Businesses in our region, particularly growing SMEs, are looking for new, state of-the-art facilities. Hellens Group has a strong track record in delivering projects and this scheme ticks many of the boxes in the LEP’s priorities and objectives, including supporting enterprise and private sector business growth; and strengthening transport, connectivity and infrastructure in the region.

By investing and developing in new infrastructure we can help create more and better jobs for the North East.”

Once built, the three units will be retained by Hellens Group and available to let by way of FRI leases.

Over the past five years Hellens Group has invested in excess of £10 million on a programme of new developments across the North East.

The company has already received a number of speculative enquiries from prospective tenants, from a range of manufacturing companies including both SME’s and larger businesses. Businesses wanting further information on the Monkton Business Park units should contact GVA or HTA Real Estate who are acting as joint agents for the development.

Notes to editors:

About Hellens Group

The Hellens Group based in Washington, Tyne and Wear, includes property, construction and manufacturing businesses with interests throughout the North East and Yorkshire.

The original business (John Hellens (Contracts) Ltd) was founded in 1973 in the North East of England. Focusing at that time on the regeneration of brownfield sites, the company became leading experts in this field throughout the North of England. Over the years the company has adapted to changing market conditions and has moved into sports and recreation facility construction, land and property development and investment as well as manufacturing of hard landscaping products for the building industry.

Members of Sunderland Business Group met recently at Hope Street Xchange, the University of Sunderland’s new centre for enterprise and innovation, designed to support the city’s entrepreneurial growth.

Hope Street Xchange is a £10m centre for enterprise and innovation, funded by the University of Sunderland and supported by £4.9m investment from the North East Local Enterprise Partnership’s Local Growth Fund. The centre supports fledgling start-ups and offers space for existing businesses to develop and grow. Located on the University’s city centre campus, it also serves as a gateway to the University’s research, expertise and problem solving provision.

Sunderland Business Group was behind the initial proposal for a one-stop shop to increase entrepreneurship in the city and tackle the low levels of enterprise and business start-ups in the region. Representing leaders from public and private sectors, the Business Group works collaboratively on strategic projects to support Sunderland’s growth and prosperity; the University is one of the group’s founding members, and has been central to its many successful initiatives, all of which have benefited the city.

Shirley Atkinson, Vice-Chancellor at the University of Sunderland, commented: “The Business Group’s vision was to create a hub where businesses can interact with the University to support their innovation and growth. That could be for internships and placements, knowledge transfer partnerships or higher or degree apprenticeships. We also wanted to support creative endeavour through access to facilities and laboratory space – including the region’s first FabLab where designers and entrepreneurs can prototype ideas using the latest digital fabrication facilities.

“The approach proposed by Business Group partners resonates with our University’s vision, as outlined in our Strategic Plan ‘We are the Tomorrow Makers’. This plan, which we launched last autumn, sets out a bold ambition for Sunderland graduates to become the future leaders of societies and economies. The plan also articulates the University’s role as an anchor institution in the North East, making significant social, economic and cultural contributions to its locality. A recent independent economic impact study estimates that the University generates £432m GVA for the North East economy, supporting 5,400 jobs, we’re very proud of that impact and that our ‘Tomorrow Makers’ vision will become reality through this University and city initiative.”

Now open, Hope Street Xchange will accommodate 49 established businesses and 150 new business ventures, creating almost 400 jobs in innovative, high-growth sectors linked to the University’s academic strengths and research practice, including advanced manufacturing and technology, health sciences, business and finance, and the creative and cultural sector.

Hope Street Xchange will also provide immediate access to a wealth of ‘real life’ applied research, practical business advice, expert mentoring, knowledge transfer partnerships and support through student work placements and graduate interns.

Hans Moller, Innovation Director at the North East LEP, said: “The finished building provides a nurturing environment to support innovative entrepreneurialism and welcomes businesses large and small to engage with the University. We’re excited to see the great things that will no doubt emerge from such an enterprising initiative.”

As well as the region’s first FabLab the centre includes hatchery and hot-desk space for University staff and student enterprise projects, flexible light-industrial, laboratory and office space for businesses seeking to co-locate with the University, a new home for the University’s graduate enterprise development facility, and a choice of 30 Grade A offices plus workshops, conference area and meeting spaces.

A team of advisers, including a dedicated business development support team provide a wrap around service for the Hope Street Xchange community of entrepreneurs, businesses, and fledgling enterprises.

The £270m Local Growth Fund, secured as part of the North East Growth Deal, supports the North East LEP’s delivery of the Strategic Economic Plan, which aims to create 100,000 more and better jobs by 2024.

Tag: Funding

In conversation: Estelle Blanks discusses the Innovation Project Development Fund

Project development grants to champion innovation

Deal agreed for new £120m fund for the North East

Innovation, Skills, Funding and Growth Opportunities for North East businesses

In conversation: Dinah Jackson discusses the Rural Growth Programme’s current funding calls

In conversation: Heather Heward, North East LEP Programme Manager: how a recent update to the European Social Fund (ESF) rules will unlock investment across the region.

New pedestrian and cycle path at Durham station

£5 million industrial units development given the green light

Vision becomes a reality for city business partners