The world of business today is overflowing with great ideas and innovation in all fields, as evidenced by the 581,000 startups launched in the UK in 2014. Within this ultra-competitive environment, a business has to be quick off the start line in order to get ahead of their competitors, or else risk falling behind and losing out on what could otherwise be great business.
There are plenty of projects that both new startups and industry veterans can embark on in the hopes of expanding their business potential. Effective marketing campaigns, new software implementations, or a new e-commerce store are all examples of projects that modern businesses take on all the time to get ahead. Projects like these, and a list of others, are vital if your business is to grow in this world but, like everything, they must come at a price.
But how do you fund These projects?
With such projects becoming a necessity for businesses of all sizes today, it is ever-so important that there are support structures in place to help set businesses on a path to success with their projects, and fortunately there are! Many government and private schemes are set up all the time to help your business to grow and thrive in your industry through monetary investment and other priceless opportunities.
One such organisation is the Innovate UK initiative, an executive body sponsored by the Department for Business, Innovation and Skills to “work with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy”. Put simply, Innovate UK are a body whose sole purpose is to provide funding and opportunities to new businesses in the UK, including yours. Since 2007 in fact, the body have given funding of over £1.5billion to over 5000 companies, a figure matched by private sector investment through the same initiatives.
And it gets better! Not only do Innovate UK provide financial assistance to up-and-coming businesses, but they also prove an invaluable asset in linking businesses with the right partners they need to succeed.
And Innovate UK are set to become a vital resource for many more growing businesses, having published their new 5-point plan with a full strategy for the years ahead to be released anytime now.
But of course, Innovate UK are not the only ones who have set out to provide help to innovative, growing businesses.
We’re here to help, and this is what we’ve found
Here at Newicon, we are also committed to helping businesses flourish, and are therefore always on the lookout for new funding opportunities to help our clients grow.
Currently, the University of the West of England (UWE) are offering grants of up to £150,000, supported by the Regional Growth Fund (RGF) to support innovative businesses in the South West. Any South West business that requires funding for a new project can apply for up to 35% of the cost of the project to help the business grow, in the RGF’s aim to create new, and secure existing, jobs in the South West region.
The RGF have an impressive history of funding new businesses with an estimated £16billion raised across the UK for innovative projects through their initiatives.
Applications must be received no later than 12pm (midday) on Wednesday, 14th October 2015, so there’s no time to waste with this great opportunity.
If you’re interested in working with Newicon on your next digital project, get in touch now.