New round for Innovation Voucher scheme

The Innovation Voucher scheme was introduced by the NWDA as part of their business support package to local firms in the downturn.  Each Innovation Voucher is worth £3k with a number of £7k vouchers recently becoming available.  Companies can use this money for consultancy services or for pump-priming new projects and product development.

UMIC, the Knowledge Provider for The University of Manchester, facilitates relationships between small businesses and experts within The University of Manchester.  As a result we are successfully driving 50 companies through the process and out the other side.  Priority sectors are; digital and creative industries, business and professional services and food and drink.  If you are a biomedical company don’t let this put you off, plenty of biomedical companies are being helped through the process by UMIC.

Firms are not restricted to just one voucher – up to two vouchers can be granted in the lifetime of the scheme.  What’s more, the Innovation Voucher Scheme opens doors to further funding such as the NWDA’s Proof of market grant of £5-20K for market research, Micro Project grant-GRAND grants of up to 20k for development, and Research Development grants of between £50-250k for product development and research.

Contact Laura Etchells on 0161 606 7264 or laura.etchells@umic.co.uk to discuss further, or visit http://www.nwdabusinessfinance.co.uk/innovation-vouchers