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East Midlands Chamber News

Growth Grant Fund Launches for Notts businesses

From today, companies in Nottinghamshire can bid for grants for business growth projects thanks to £5.7m of funding secured by The University of Nottingham.

The ‘N2 Business Growth Programme’ will offer grants ranging from £20k to £250k to businesses. The money will be available for firms seeking to grow via capital investment in equipment or infrastructure, exploitation of intellectual property and new technologies.

The funding has been awarded from the Government’s Regional Growth Fund to provide grants to help businesses in Nottingham and Nottinghamshire fulfil their growth potential and to drive the creation of new private sector jobs in the county.

The programme will be delivered by East Midlands Business (EMB), overseen by The University of Nottingham.

Applications will be considered from businesses in all industries, but there will be a focus on key sectors which have been identified as being vital to the Nottingham and Nottinghamshire economies, including life sciences, digital content, clean technologies and advanced manufacturing.

The ‘N2 Business Growth Programme’ builds on the success of the two previous RGF Programmes — the Nottingham Technology Grant Fund (N’Tech), managed by Nottingham City Council, and Unlocking Investment for Growth, which was delivered by EMB on behalf of the D2N2 Local Enterprise Partnership.

Speaking about the launch of the programme, Dan King, Business and Local Partnerships Manager at The University of Nottingham, said: “I am very pleased that we are today able to launch the N2 Business Growth Programme. It will provide businesses across the city and county with the finance that that they need to achieve their growth potential. I would encourage any businesses that are ready to take the leap to the next stage of their development to take a look at the programme.”

Danielle Gillett, Executive Director of EMB added: “It is often difficult for businesses to access the finance needed to support expansion plans. The N2 Business Growth Programme can provide targeted funding to catalyse growth and innovation.

“We are looking forward to working with The University of Nottingham and other partners on this initiative, and meeting innovative businesses across Nottingham and Nottinghamshire which, with the right amount of funding, have the potential to grow, creating new jobs in the process.”