EU funding available to support productivity and competitiveness of businesses in Cornwall and the Isles of Scilly
Up to £21m has been made available to accelerate the productivity and competitiveness of businesses in Cornwall and the Isles of Scilly.
The process to apply for this funding has been launched this week with the focus on ensuring local companies, both existing and start up, have the appropriate support to grow.
The programme aims to achieve this through funding support targeted at:
- Enabling local companies to work together and collaborate to deliver specific growth initiatives
- Providing advice and support to enable businesses to prepare for and access external financial investment
- Driving innovation across Cornwall & Isles of Scilly’s business base
(Note: this funding is in addition to the tranche allotted to support research, development and innovation in Cornwall’s identified growth markets i.e. agri-tech, digital economy, e-health and e-wellbeing, space and aerospace, marine-tech.)
Councillor Julian German, member of the Integrated Territorial Investment (ITI) Board which is responsible for overseeing the Cornwall & Isles of Scilly Growth Programme, said: ‘We would like to see this particular tranche of funding enable businesses with growth potential to overcome barriers, including access to finance, that are preventing them from progressing.’
Full detail about this funding opportunity and the application process can be found at https://www.gov.uk/european-structural-investment-funds?keywords=&location%5B%5D=south-west
Further information about the European Regional Development Fund can be found at http://www.erdfconvergence.org.uk/growth-programme/erdf
The Cornwall and Isles of Scilly Growth Programme is part of the England Growth Programme, which will run from 2014-2020. Cornwall and the Isles of Scilly is the only area in England to qualify as a ‘Less Developed’ region and has an allocation of €603.7million which is split as follows:
European Regional Development Fund (ERDF) €438 million
European Social Fund (ESF) €166 million
The European Agricultural Fund for Rural Development (EAFRD) has an allocation of £10 million in Cornwall and Isles of Scilly, aligned with the wider England Growth Programme.
Media Relations Officer for the Convergence support team
Economic Development and Culture
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Friday 4 December 2015