Solent: LEP opens £3m fund for science and innovation projects
The Solent Local Enterprise Partnership (LEP) has opened a £3 million fund for science and innovation projects in the Solent. It is specifically seeking to invest between £250,000 and £3m, in the form of grant, loan or equity in capital projects which are likely to unlock further private sector investment in the area over the next year.
The announcement comes ahead of the Government's Autumn Statement, which is widely anticipated to prioritise continued investment in productivity through the development of the science and research in the UK.
The Solent is well placed to lead this UK charge for further innovation. It is already home to nationally and internationally-renowned universities and research centres, with planned investments valued at over £100m in the areas of marine and maritime, photonics, digital, computer science and autonomous systems, forensics and Cyber Security, advanced materials, life sciences, immunology and intelligent infrastructure.
The £3m funding competition further reinforces the LEPs commitment to supporting innovation and follows previous investments to bring forward the UKs first dedicated Centre for Cancer Immunology, a £25m state-of-the-art facility at Southampton, as also the £11m Future Technology Centre in Portsmouth which will enable the university to work more closely with business to develop creative answers to global challenges. Both new centres are currently under construction and scheduled to open in 2017.
Steve Barber, chairman of the Solent LEP innovation and business-support panel, said: “The Solent region is at the heart of innovation in the South East, which has the highest percentage of innovative businesses, product innovations and investment in R&D of any UK region. We will be making further funding opportunities for our world-leading innovative SME businesses in the coming months.”
Applications for the funding from organisations of all sizes and sectors are welcome and the LEP is keen to encourage 'smart manufacturing projects' which will enable and increase in production through the use of digital technology, and projects which will support the development of new technology.
The Solent LEP is running a workshop at Cams Hall, Fareham, on October 13, for anyone interested in the competition to find out more and discuss their project with a member of the team.
The first of two closing dates for applications under this new round is October 31, and further information on the fund, and details on how to book a place at the workshop, is available at here.
