The East Midlands Development Agency (EMDA) awarded research and development grants totalling £5.08m to 61 companies in the East Midlands between 2006-07.
This investment in the region was reported in figures released by the Department of Business, Enterprise and Regulatory Reform (BERR). The grants were made under BERR’s Grant for Research and Development (GRD) scheme.
The amount represents a 70 per cent increase on the previous year, which EMDA says highlights its commitment to helping businesses invest in the development of products and processes to improve their overall commercial performance.
The GRD scheme was launched by BERR, formerly the DTI, in 2003 to help more businesses carry out research and development work that will lead to technological advances and improve the economic prosperity of the UK. The government’s Small Business Service (SBS) previously managed it, with responsibility being passed to English Regional Development Agencies (RDAs) in 2005.
Companies in the East Midlands that have benefited from a GRD are typically those that have outlined a research project with commercial potential or a technically innovative idea which needs further development. The grant is available to new or existing small and medium-sized enterprises (SMEs) based in the region.