Funding available for advanced manufacturing in the North West
Northern Powerhouse Investment Fund (NPIF)
- The NPIF, supported by the European Regional Development Fund, provides commercially focussed finance through Microfinance, Debt and Equity Finance funds.
- NPIF is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the North West, Yorkshire, the Humber and Tees Valley.
European Structural Development Fund (ERDF & ESF)
The Structural Funds are financial tools set up to implement the regional policy of the European Union. They aim to reduce regional disparities in income, wealth and opportunities. The current Regional Policy framework is set for a period of seven years, from 2014 to 2020.
The Structural Funds are made up of the European Regional Development Fund (ERDF) and the European Social Fund(ESF).
The funds can only be accessed via LEP specific projects e.g. “LCLR4.0” in Liverpool City Region or “Access Innovation” in Leeds City Region
Contact NAA or your LEP growth hub for more details
Liverpool City Region
Liverpool Mayoral Investment Fund
- The Mayoral Investment Fund is designed to stimulate business and has brought Briggs Automotive Company to Liverpool
Skills For Growth Bank
- New £32 million fund for businesses
- Investment of between £1,000 and £1 million in training projects, available for companies of any size
New Markets Programme
- Support for growing businesses with fewer than 250 employees and less than €50m (£42m) turnover
- 35% contribution to the cost of commercial advice in a range of disciplines
Lancashire Rosebud business finance
- Finance from £10,000 to over £1 million for ambitious growing businesses
Boost Business Lancashire
- £7.2 million programme of business support to grow the county’s economy by £20m
Business Growth Hub
- Helping businesses across Greater Manchester, from established and large companies to start-ups and SME enterprises
National Funding available in the North West
Horizon 2020 funds high-potential innovation through a dedicated SME instrument (Upto 70% of total cost of the project )
The dedicated SME instrument’s supports close-to-market activities, with the aim to give a strong boost to breakthrough innovation. Highly innovative SMEs with a clear commercial ambition and a potential for high growth and internationalisation are the prime target. The SME Instrument offers small and medium-sized businesses the following:
- Business innovation grants for feasibility assessment purposes (optional phase I): EUR 50,000 (lump sum) per project (70% of total cost of the project);
- Business innovation grants for innovation development & demonstration purposes (possible phase II): an amount in the indicative range of EUR 500,000 and 2,5 million (70% of total cost of the project as a general rule);
- Free-of-charge business coaching (optional in phases I and II), in order to support and enhance the firm’s innovation capacity and help align the project to strategic business needs;
- Access to a wide range of innovation support services and facilitated access to risk finance (mostly in optional phase III), to facilitate the commercial exploitation of the innovation.
Business Growth Fund
- Aim is to help Britain’s growing smaller and medium sized businesses
- Backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered
- BGF is an independent company with up to £2.5bn with which to make long-term equity investments.
Tooling Loan Fund
- £24m national fund
- For manufacturers within, or supplying, the automotive industry who require support for the purchase of ‘bespoke’ tooling
- Loan amount £50k to £1m.
Assorted support from banks such as Tooling Finance from RBS