Grants of up to £25,000 are being offered to small and medium-sized businesses in the West of England thanks to a £1 million innovation fund.
West of England Metro Mayor Dan Norris during a visit to Kelpi | Photo © WECA
The £1 million scheme from the West of England Combined Authority (WECA) offers eligible firms a one-off grant towards the cost of research and development, with the ultimate aim of getting new products or services to market or developing new processes to help companies adapt and grow.
Successful projects from previous versions of the scheme include a project to replace single-used plastics with fully compostable seaweed alternatives led by Kelpi, who started out in Bath.
Dan Norris, West of England Mayor said: “Smaller and medium-sized firms are the cornerstone of our regional economy, accounting for more than 90% of all businesses in the West.
“They’re essential to our current success, but they’re going to be absolutely vital when it comes to the long-term prosperity of our West of England region.
“That’s why I’m backing them with this £1 million fund to help unleash their full potential.”
Small and medium-sized firms from any sector can apply, although the Mayoral Combined encourages those in the Immersive Creative, Advanced Engineering, Health Sciences and Sustainable Fintech sectors, identified in the region’s Plan for Innovation.
