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Grants
SEEDA (the South East of England Regional Development Agency) is responsible for managing two Business Grant schemes; Grant for Business Investment (GBI) and Grant for Research & Development. These grants are only eligible for small and medium sized businesses and enterprises.
The Grant for Business Investment (GBI) Scheme aims to assist businesses to increase productivity through investment in capital equipment and technology. The Grants begin at £10,000 and up to £2million may be available.
The Grant for Research and Development aims to help start-ups and small and medium-sized enterprises carry out research and development work on technologically innovative products and processes. The project must carry out research or development work on a technologically innovative product or process at the pre-production stage. This does not include natural product improvement, enhancement, extension or development of existing known products. There are five different types of projects;
o Micro projects are simple, low-cost development projects lasting no longer than 12 months. A grant of up to £20,000 is available to businesses with fewer than ten employees.
o Research projects aim to investigate the technical and commercial feasibility of innovative technology and last six to 18 months. A grant of up to £100,000 is available to businesses with fewer than 50 employees.
o Development projects aim to develop a pre-production prototype of a new product or process that involves a significant technological advance. A grant of up to £250,000 is available to businesses with fewer than 250 employees.
o Exceptional development projects involve a significant technological advance and are strategically important for a particular technology or industrial sector. A negotiable grant of up to £500,000 is available to businesses with a qualifying project.
o Proof of Market Projects aim to test the commercial potential of an innovative idea for a new technology prior to research and development work being carried out on the underlying technology and last up to 9 months. A grant of up to £20,000 is available.
Finance South East manages a number of funds dedicated to bridging the funding gap for innovative growth companies in the South East region. These funds are available for small to medium-sized enterprises.
The Accelerator Fund is a £10 million loan fund which supports companies with the potential for significant growth. It can lend from £25,000 to £100,000. An additional £100,000 can be made available after a period of 9 months.
The South East Seed Fund is a £5m equity fund that invests up to £250,000 in enterprises with a high potential for success, which may include university spin-outs/spin-ins. It is a commercially operated fund and only seeks to invest in opportunities with significant potential for growth.
The Finance for Business: Commercialisation Fund aims to facilitate the progress to market business ideas with clear potential for high growth. The fund operates in two ‘phases’ with up to £30,000 available for each phase. Companies may apply for one or both phases.
Havant Borough Council Business and Social Enterprise Start-up Grants are available for new businesses in the Havant area. Up to £500 is available for full time businesses which have been trading for less than 12 months.
