A new £1.4m fund has been launched in the Tees Valley to encourage small businesses to work together to grow and develop new products.
The Collaborative Networks Programme has been designed to help small business bring new products to the market, improve productivity, create jobs, reduce carbon emissions and grow the local economy.
It will run for three years and support micro businesses and SMEs to create new innovations by working with each other as well as with universities, large companies and public bodies.
Tees Valley mayor Ben Houchen said: “Our industries in the Tees Valley and the good jobs many people have today come from innovations and inventions made right here, in chemicals, materials and other technologies. This fund is an investment in getting local firms closer to the ideas and products that will grow our economy and create the jobs of the future.
“We’re putting our money where our mouth is and investing in our innovators and jobs creators to make them even more effective.
“I visit great Tees Valley businesses every week and I’m blown away by the innovation and great ideas we have. Now we want to encourage more great local firms to work together on what could be the next big idea.”
SMEs that successfully gain access to the funding will be able to use the money to finance business planning activities, market research, proof of concepts, feasibility studies, pilot actions and demonstrations of their products.
The grants are available to any business that is already collaborating or is looking to set up a partnership with another company. The Collaborative Networks Programme Grant Application Pack is available to download from the Tees Valley Combined Authority website.
Businesses working in the region’s seven priority sectors will be able to apply for the grant. These sectors are advanced manufacturing; process, chemicals and energy; logistics; health and biologics; digital and creative; culture and leisure; business and professional services.
Those wishing to apply for the grants are being encouraged to attend a number of information sessions on the programme, which will be held across Tees Valley.
Sessions will be held at the Centre for Professional and Executive Development in Darlington on September 17, at the BIS in Hartlepool on September 18, Cavendish House in Stockton on September 19, Teesside University in Middlesbrough on September 24 and the Kirkleatham Innovation Centre in Redcar on October 9.
