If you’re part of a growing small and medium sized company with an exciting, innovative project that needs a final investment to truly take off, then the Coast to Capital Growth Grant Programme could be your ideal solution. The programme can help bring an increased turnover of 20% per annum and heightened productivity for your company, and in turn the wider economy by its investment in your product or project.
The Coast to Capital Growth Grant Programme can help companies from all sectors outside of the retail and wholesale sector. This year, however, they are particularly interested to see applicants from the key sectors in the 'Coast to Capital' region. These are:
- Food and Drink manufacturers
- Business and Professional services
- Creative, Digital and IT
- Engineering and Manufacturing
- Medical Technology, Life Sciences and Healthcare
- Environmental Technologies, Goods and Service
You are eligible for the grant if your business address is located anywhere across the Coast to Capital region. This includes Sussex Innovation's incubation hubs in Falmer and Croydon, as well as most of the region in between the two. Eligible districts include Adur & Worthing, Arun, Brighton & Hove, Chichester, Lewes, Mid Sussex, Horsham, Crawley, Croydon, Epsom & Ewell, Mole Valley, Reigate & Banstead, and Tandridge. The only other eligibility requirements for this investment opportunity are as follows:
- Businesses must display apt figures, communicating how the improved productivity provided by the grant will lead to growth of at least 20% per annum
- The product or project must be innovative, for example through new technologies, or reaching out to new markets or consumers
- Presented evidence that you have explored all other sources of funding
- You need to provide some of the project funding, so you must show how you will source the rest of the funding alongside the grant by 31st March 2019. The grant can provide up to a maximum of 40% of the total project costs (to a maximum £170,000) but can only be used to purchase capital resources. Other ways to provide the remaining investment could be by retaining profits, taking loans or asking for investment from shareholders
- The proposed new project must be in addition to regular business activities
- The project or new activity must also have an objective element of social value
If you think this programme sounds like it could benefit your current project, then please click here to visit the Coast to Capital website and read more about your eligibility.
You can also contact the Growth Hub Team by email enquiry or phone on 01403 333840 to discuss your potential and innovative projects, and get in touch with the Sussex Innovation team if you're looking for any support with writing grant bids.