North Yorkshire businesses to benefit from new £5m funding pot
It's been set up by the Mayor David Skaith
Businesses in North Yorkshire are being invited to bid for money from a new £5million fund.
The Business Innovation Fund has been launched by the Mayor David Skaith:
“York and North Yorkshire has always been a place of innovation. From building the first railways and social houses, to transforming farming with new technologies.
“That pioneering spirit makes this region special, and it’s why many of our businesses have made their mark, not just here in the UK but also right across the world.
“Our businesses drive so much growth in the region, but with the right support we know they can drive greater innovation and create an even larger impact.
“That potential is why I am excited to see what we can achieve together with the Business Innovation Fund.”
The ‘Sector Activity’, ‘Spin-Out and Start-Up' programmes, backed by more than £800,000, will be the first to launch this week.
These programmes are designed to drive forward York and North Yorkshire’s key sectors and identify barriers and opportunities for our three universities to nurture companies respectively.
‘Get Exporting’ launches in May with more than £600,000 in grants available. This follows in the footsteps of a similar programme in 2024 which provided grants totalling £200,000 and resulted in millions of pounds in sales.
From October, the £200,000 ‘Get Funded’ programme will provide businesses with financial training so they can attract investment and grow.
The largest of the funds worth £2.5 million, ‘Great Ideas’ will launch in January next year and will involve a ‘dragon’s den’ style application process. Successful businesses will benefit from wrap around coaching and investment training to turn innovative ideas into reality.