Fast-track to Funding
Cambridgeshire & Peterborough Growth Fund
Eligibility Quick Guide for Businesses: Cambridgeshire
What is the Cambridgeshire & Peterborough Growth Fund?
The Cambridgeshire & Peterborough Growth Fund (CPGF) is available to organisations to help fund a programme of business support that has been agreed with Business Link East (BLE). The CPGF is a limited funding opportunity designed to provide one-off financial support for businesses and social enterprises looking to safeguard or create new jobs as part of their business growth plans. Please contact BLE on 08457 17 16 15, Email: info@businesslinkeast.org.uk, Fax: 0845 607 6117, Textphone for deaf and hard of hearing: 01707 398390.
Eligibility
To become eligible for the fund each beneficiary must first have undertaken a business diagnostic and developed an action plan with a BLE adviser. The outcome of this diagnostic must be an agreed plan for growth with measurable outputs. This will include a proposal for the relevant support organisations need in order to realise their target of growth and job creation/safeguarding.
The CPGF is available only to small and medium sized enterprises (SME’s) based in Cambridgeshire or Peterborough (please note that for the Peterborough district different qualifying rules apply). Cambridgeshire only organisations i.e. excluding the Peterborough district, may be in receipt of publically funded support but should match fund the grant with non-public money and fit into one of the following sectors:
| Biomedical | Cleantech |
| High Value Manufacturing | ICT |
| Tourism | Food Processing |
| Creative Industries | Social Enterprise |
The CPGF is available until 31 December 2010.
The CPGF entitles eligible beneficiaries to claim back up to 50% of the cost of their agreed business support activity up to a maximum value of £10,000. Organisations may be in receipt of publically funded support but should match fund the grant with non-public money i.e. if requesting a £5,000 grant then £10,000 of the match fund should be from non-public money.
If the organisation is VAT registered only the net amount of any cost can be attributed for match funding purposes i.e. 50% of net amount for VAT registered companies. If the organisation is not VAT registered the gross amount of any cost (inclusive of VAT) can be attributed for match funding purposes i.e. 50% of the gross amount for non-VAT registered companies.
A number of Cambridgeshire organisations have already benefited from the Growth Fund, here are 3 case studies:
Case Study One:
An organisation in the ‘Cleantech’ Sector was awarded a match funded grant of £10,000 to help with the cost of fitting out a new showroom, tile processing area and storage area. The Project also included an element of marketing relating to the relocation of the business and its extended recycling and showroom facilities.
Following the completion of the project the business forecast that an additional 62 tonnes of carpet tiles would be recycled resulting in a 20% increase in sales revenue. Two additional work colleagues would be recruited and three existing jobs would be safeguarded
Case Study Two:
An organisation in the High Value Manufacturing sector was awarded a match funded grant of just over £4000 to help develop a content managed website with e-commerce functionality for selling configurable aluminium extrusions.
On completion of the project the organisation expected sales turnover to increase by 20% with an improved gross margin that would safeguard the jobs of four employees and result in at least one fulltime job being created.
Case Study Three:
An organisation in the Biomedical sector was awarded a match funded grant of £3000 to help towards the purchase of a cold room which would enable the company to stock refrigerated items, thus attracting business for Haematology Research reagents from a variety of new markets currently closed to them. It also allowed them to generate profitable income from storing and distributing such products for other companies.
Sales of the refrigerated stock were expected to yield around £125,000 worth of additional sales in the first year meaning that the company could recruit one full-time sales person and safeguard two existing jobs.
To join these successful companies in benefiting from the Growth fund please contact BLE on 08457 17 16 15, Email: info@businesslinkeast.org.uk.
For further details on Business Link East please contact www.businesslink.gov.uk/east.
Helping Creative Business Succeed Through Training Grants (East of England)
Beyond 2010 is a new European Social Fund and East of England Development Agency (ESF/EEDA) programme which targets
ten employment sectors and is managed by the Essex Development & Regeneration Agency (ExDRA). The programme helps
creative businesses succeed through a grant for training which will reimburse up to 50% of the cost for higher
level courses. Beyond 2010 includes the Response to Redundancy programme which provides information, advice and
re-training opportunities to individuals facing redundancy. This programme is managed by The Consultancy Home
Counties (TCHC) on behalf of ExDRA. The sectors that are eligible for Beyond 2010 are:
- Automotive & high-tech manufacture
- Creative
- Financial services
- Food and drink processing
- Life sciences and healthcare
- Low carbon and sustainable technologies
- Social enterprise
- Sustainable communities and the built environment
- Tourism and the London 2012 Olympic and Paralympics Games
- Transport gateways
For further information on how to apply for funding from Response to Redundancy please contact: philip.shackleton@tchc.net or visit www.beyond2010.co.uk
Grassroots Grants
Cambridgeshire Community Foundation (registered charity 1103314) has a major new grant programme (Nov 08) open for
applications. Grassroots Grants (funded by the Office of the Third Sector) offers not-for-profit
voluntary or community organisations in Cambridgeshire, which have been active in their community for not less than
12 months, have a governing document and evidenced income of less than £30,000 per annum (averaged over the
last three years), grants of between £250 and £5,000 for projects that address local needs.
Examples of what can be funded are:
- Purchase of capital items such as computer equipment, oven or furniture
- Costs of putting on a local event or workshop
- Staff costs to enable the employment of individuals
- Contribution to rent costs (related to activities/service delivery)
- Cost of attending a conference or event
- Training for volunteers
- Additional activities to expand an existing funded project
To discuss your project please call CCF on 01223 410535 or look on our website www.cambscf.org.uk.
EEDA funding for the private sector
EEDA offer a range of funding programmes specifically targetted at turning innovative ideas into business
growth.
Grant for Research and Development
Designed to help technology-focussed entrepreneurs carry out research and development work on innovative
products and processes.
http://www.eeda.org.uk/2053_3567.asp
Proof of Concept Fund
To test the commercial viability of innovative business ideas
http://www.eeda.org.uk/2053_2080.asp
Selective Finance for Investment
To support businesses intending to make investments in order to grow, for example in purchasing machinery
or land.
http://www.eeda.org.uk/192_48.asp
Towards 2010
Between 50 and 70 per cent of the cost of training is available to support initiatives that focus on
improving business performance.
http://www.eeda.org.uk/2053_44.asp
Seventh Framework Programme (FP7)
Register to attend a free seminar and gain an insight into the commercial opportunities that exist for
businesses based in the East of England region to participate in EU funded research & development programmes.
All event details are available on the EEDA website www.eeda.org.uk/24_events.asp and the Business Link events website www.bookevents.org
Download the flyer
Download the registration form
European Regional Development Fund (ERDF)
ERDF is a seven year (2007-2013) European fund with administration delegated to a regional level.
The East of England ERDF allocation is approximately £83m.
The main theme of the ERDF programme is supporting low carbon economic growth in the region. Funding will support initiatives that meet the programme's three priorities (axes) as well as environmental, sustainable and equality criteria.
The three priorities are:
- To promote innovation and knowledge transfer with the intention of improving productivity
- To stimulate enterprise and support successful business by overcoming barriers to business creation and expansion
- To ensure sustainable development, production and consumption.
The Greater Cambridge Partnership has been tasked with producing the ERDF plan for Cambridgeshire. The purpose of the Cambridgeshire ERDF plan is to advise EEDA of Cambridgeshire based project proposals that intend to make an application to the ERDF programme, and to demonstrate their fit with local priorities.
Inclusion of a project proposal in the Cambridgeshire ERDF Plan will not act as an application itself but it will help a project's chances of success in being funded when a formal application is made directly through EEDA.
Visit http://www.eeda.org.uk/erdf_3652.asp for details on applying to the fund
The Cambridgeshire ERDF plan will be updated annually so please inform Cathy Taylor (cathy.taylor@cambridgeshire.gov.uk) of any project applications you intend to seek ERDF programme funds for.
EEDA core product funds
The majority of EEDA's investment is channelled through our four core products: business support, enterprise
hubs, investing in communities, and regional renaissance.
If you have a project you feel is appropriate for EEDA investment, the GCP can help guide you by giving an initial assessment of project suitability. If you, as the project applicant, are invited by EEDA to submit a full business case the GCP team can support you in filling this in.
For more information on the process, please contact Martin Garratt martin.garratt@cambridgeshire.gov.uk.
Funding to support the rural economy
£4 million of funding from the Rural Development Programme for England has been made available for the
Cambridgeshire and Norfolk Fens.. The funding will be spent over the next seven years on local projects
designed to foster a thriving farming and rural business economy in the Fens that benefits local
communities and the environment.
The funding will be allocated to the Fens Adventurers Local Action Group to invest in bottom-up, locally-led projects. Projects will support farming businesses, micro and community enterprises, and develop the tourism potential of this special rural landscape.
For more information contact Mike Carter, mike.carter@cambsacre.org.uk
European Social Funds (ESF)
The East of England has been awarded an allocation of £155 million for the period 2007-13 as part of the new
European Social Fund programme.
The East of England Development Agency (EEDA) is one of five Co-Financing Organisations (CFOs) in the East of England region for the new programme.The other CFOs are the Department for Work and Pensions (DWP), the Learning and Skills Council (LSC), Bedfordshire County Council and Luton Borough Council. Each co-financing organisation has produced a co-financing plan that describes the priorities on which they intend to focus their available funds. Tenders for projects against these priorities will be published in various rounds by each organisation and will be available to view on their websites. Projects will be 100% funded.
European Funding
There are various funding streams available to promote joint working with partners overseas. The attached
diagram shows how the main funding programmes are structured and where to find more information about each
programme.
EU funding.pdf
