Three Tees Valley ERDF calls have been launched under the following themes:
- INNOVATION £4.9m
- SME COMPETITIVENESS £26.2m
- LOW CARBON £9.7m
The closing date for all three calls is Monday 30th September 2019. Call documents can be accessed at www.gov.uk.
This event is one of three. Each event is the same and will cover all four priorities/themes so you need only attend one.
The following activity is included:
PROMOTING RESEARCH AND INNOVATION – PRIORITY AXIS 1
The call states that the focus is on revenue support, particularly the provision of intensive support leading to an increase in innovative capacity for new and established businesses innovating in smart specialisation areas.
Consideration will be given to limited capital investment that addresses the key priorities identified within the Tees Valley Innovation Strategy. Capital investment should provide improved innovation facilities/business space to enable research, development and innovation where robust evidence of market failure is provided, and where this investment is fundamentally linked to the provision of intensive support to new and established innovating businesses.
Capital investment must demonstrate clear and explicit linkages to the provision of intensive support to innovating businesses and capital works must be supported by high quality and relevant revenue support.
SME COMPETITIVENESS – PRIORITY AXIS 3
This call looks to enhance the competitiveness of small and medium sized enterprises (SMEs) and specifically:
• Promoting entrepreneurship, in particular by facilitating the economic exploitation of new ideas and fostering the creation of new firms, including through business incubators
• Supporting the creation and the extension of advanced capacities for products, services and development
• Supporting the capacity of Small and Medium Sized Enterprises to grow in regional, national and international markets and to engage in innovation processes,
Local priorities will be:
Activities should support businesses to improve their productivity, help them grow and create jobs. Tees Valley experiences a comparatively low growth rate amongst businesses. Although the enterprise rate is expanding, it hasn’t translated into more jobs or increased productivity. Productivity of Tees Valley business is around 90% of the UK average.
Support should develop the entrepreneurial skills and capacity to establish new businesses, and to enable those with the potential to grow significantly and rapidly. Tees Valley enterprise stock is dominated by a prevalence of firms with annual turnover between £50k and £200k. The proportion of Tees Valley firms with £200k+ turnover falls below national averages.
Supply Chain Development
Support for the development of supply chains to help businesses export, innovate, to become more productive, access finance and e-commerce opportunities. Changes to business ownership in Tees Valley have resulted in significant reductions in process integration within the region. The result of this has been long term erosion of developed supply chains and a loss to supply chain efficiency. Applicants will need to demonstrate activity is complementary to the existing Business Compass model.
Access to Finance and Investment Readiness
Activities should support businesses to develop their financing strategy alongside their commercial offer. Programmes may incorporate management development and mentoring to raise awareness of the types of finance available to business, a consideration of how different forms of finance can be used to support growth, the implications to a business of taking on external finance and the need to demonstrate robust financial management and reporting in support of an application for finance. Programmes may also offer specific tailored support to assist businesses with finance raising including (but not limited to) development of management reporting systems, support with business plan/forecast preparation and introductions to specific finance providers.
The Growth Hub element will continue and will not be the subject of this call. Responses are required to deliver additional programmes of activity within the Business Compass brand, focusing on the areas highlighted above.
The call states that the focus is on revenue support but that limited capital investment may be considered where it clearly addresses Tees Valley LEP area priorities in infrastructure linked to key employment sites and enterprise zones.
LOW CARBON – PRIORITY AXIS 4
This call is looking to support the shift towards a low carbon economy in all sectors and in particular:
• promote the production and distribution of energy derived from renewable resources
• increase energy efficiency particularly in SMEs including through the implementation of low carbon technologies
• support the take up of low carbon energy solutions
• promote low-carbon strategies for all types of territories, in particular for urban areas, including the promotion of sustainable multimodal urban mobility and mitigation-relevant adaptation measures
• promote research and innovation in, and adoption of, low-carbon technologies