The Innovation and Resilience Fund offers East Devon businesses the opportunity to apply for funding to deliver a project.
Applicants can apply for:
- Up to £50,000 per individual business or organisation
- Up to £150,000 per collaborative bid (multiple businesses and organisations)
Requests above these amounts will be considered where applicants can demonstrate that their proposed project will lead to exceptional positive benefits for the local economy.
The minimum funding request is £2,500.
To be eligible to apply, applicants must:
- Have been trading before 1 January 2021
- Primarily operate and trade within East Devon
- Not be in administration, insolvent or has been struck off the Companies House register
- Not have exceeded the permitted subsidy control threshold
Funding can be used, but are not limited to, the following purchases:
- Equipment that will allow the business to diversify or create a new innovative product
- Specialist training to allow the business to expand into new markets
- Equipment that will enable the business to expand and create new higher paid jobs
- Technologies that will allow the business to become carbon neutral or negative
Applicants cannot use the funding to cover salaries or lost income, to cover normal operational costs such as rent, utility bills, etc or to cover the cost of any goods or services already purchased.
Find out more and how to make an application at www.eastdevon.gov.uk/irf
The IRF will close to new expressions of interest either on 18 February 2022 or when the total scheme allocation of £2,044,070 has been consumed, whichever is soonest.