Grant and debt finance
Finding development finance for a new business, especially pre-revenue, can be very difficult. While equity investment is often the anticipated route (see "Investment" section) this is not always the most practical or cheapest route. At the Innovation Centre we look towards a broad funding mix to address the different levels and types of requirement that a new technology business may face.
The Sussex Innovation Centre does not have its own funds to invest or lend to companies, therefore our role is working with companies to identify funding sources and to prepare them for the fund raising process.
Identified below is some sources of grant and debt finance where the Innovation Centre can provide added value through its support.
Grants
Grant for Investigating an Innovative Idea - is a grant for small and medium sized businesses that have an idea to develop an innovative product, process or service. The grant will reimburse some of the costs of consultants chosen to provide advice on the project.
Grants for Research and Development - grants for individuals, small and medium sized businesses for research and development projects.
Debt finance
High Street Banks - the Innovation Centre maintains a network of contacts within the local and regional banks, this allows us to introduce companies to the most appropriate banking manager. Also, through our experience we help companies to manage their relationship with the banks to maximise the possibility of effective banking support. This way of working ties in well with our accountancy services, meaning that the company will have well formulated financial records.
FSE Accelerator Fund - a £10 million loan fund managed by Finance South East. Available to small & medium sized businesses based in south east England (SEEDA region) with the potential to achieve significant growth. The fund will lend between £25,000 and £100,000 for a period of 3 to 7 years.
Small Firms Loan Guarentee - A loan guarentee scheme for small to medium sized enterprises that have previously been denied loans through lack of security. Loans are available for a period of 2 to 10 years with sums of £5,000 to £100,000 (£250,000 if the the business has been trading for over 2 years).
Great Ideas in Science & Technology (GRIST) - linked to the University of Brighton, financial loan for development of business proposal around technology based ideas. Includes mentoring and advisory services.
