Businesses in the east of England could receive a major funding boost through the East of England Development Agency (EEDA)’s Grants for Research and Development programme.
The EEDA has £2m of funding available to support low-carbon research and development up to the end of this financial year, and is offering between £20,000 and £250,000 in grants to businesses developing ’greener’ technologies.
The grants are being made available thanks to funding from the European Regional Development Fund (ERDF) and local companies are being urged to apply now to secure their grant before the new financial year.
Paul May, executive director of innovation at EEDA, said: ’This is not just aimed at companies developing wind turbines or other traditional environmental technologies. You may be developing a new software system, ICT solution or an advanced manufacturing process, for example, that has a positive knock-on effect on the environment − reducing carbon emissions, energy consumption or our reliance on natural resources. If so, you could be eligible for EEDA’s grant funding.’
A grant from EEDA can be used by companies to prove a marketplace for a new product, to develop a prototype and/or to test its feasibility. Up to £250,000 is available to match fund 40 per cent of a project’s total cost. As a grant, applicant companies are not required to release any of their equity as part of the funding agreement.
Applications for grants must be made before the end of March at www.bizmapeast.com/lowcarbon.