The Tees Valley has been chosen as one of just two locations to pilot a new initiative to build on local innovation strengths – with an initial £15million investment available to support businesses.
Part of UK Research and Innovation, Innovate UK’s Launchpad pilot will invite small and medium enterprises (SMEs) to apply for competitive grants starting at £15,000 for innovation projects that focus on the region’s energy and renewable sector. Grant funding of up to £1million is available for projects that provide exceptional impact to the cluster of SMEs.
Successful applicants will receive wrap-around support from local and national organisations, with innovation funding and support available in areas such as Hydrogen, Carbon Capture, Utilisation and Storage (CCUS), Offshore Engineering, Materials and Processing, and Circular Economy.
Details of the initial funding competition have been revealed and local stakeholders can now sign up to engagement sessions on Friday 30 September and 14 October.