News
'Innovation Voucher' Scheme
July 27, 2010 11:29
The Innovation Voucher is a government-funded business support product available nationally via the Business Link service. Business Link North East is managing the programme in our region. The voucher provides funding to help businesses innovate and improve their performance by using academic and/or technological expertise and facilities. Northumbria University is a one the academic providers participating in the scheme.
How much funding can an Innovation Voucher provide?
An Innovation Voucher can provide between £3000 and £7000 worth of funding to eligible projects. Client contributions depend on the total project value.
Business Enterprise North East advise that clients will usually need to pay the full project value on completion of the work and then submit their claim for funding they have been awarded. The funding is therefore in the form of a ‘refund’ rather than the usual understanding of the term ‘voucher’.
How can Northumbria University assist?
Northumbria University is a registered provider of innovation projects to this programme. University consultants have a broad range of experience in many industry sectors and have a track record of working successfully with companies to deliver research and innovation projects. Examples of activity that can be supported include: new product design or development; new or improved processes and services; development of a new business model; an innovation or technology audit; experimenting, testing or measuring – contact us to discuss your ideas.
Who can apply?
Eligible organisations include registered companies, social enterprises, registered charities and sole traders. The aim is to encourage small to medium size enterprises (SMEs) in the North East to work with universities and other innovation partners, particularly those who haven’t done so before.
Is there a deadline?
Business Link aims to support 350 SMEs with Innovation Vouchers over an 18-month period, which started in July 2009. Companies can apply for only one voucher during the life of this programme.
How do I apply?
Contact the university with your idea. We can review your requirements and put you in touch with an appropriate consultant to develop an innovation proposal. Each organisation and project is reviewed individually by Business Link as part of the application process. We can assist with the application to Business Link through our dedicated referral process.
Contact details
Hazel Juggins
Northumbria Commercial Enterprises
Tel: 0191 243 7262
Email commercial@northumbria.ac.uk